Stock Market: New confrontation with 2,700 points

The General Index retreats after the upward opening. Increased turnover in banks, pressure on Lamda, Viohalco, Cenergy, EYDAP, new rise for DAA. Futures on Wall Street at a significant premium.

Stock Market: New confrontation with 2,700 points

This article is an AI translation of an original piece published in Greek. Read original

The first moves of traders in the European markets are positive, with their equivalent in bonds on the Greek stock market.

In a confrontation between traders who are buying due to the decline in oil and bond prices and those who are selling on the occasion of the Fed's interest rate increase, and more specifically the "hawkish" stance of its head.

As regards the issue of interest rates, a stockbroker noted that Wors' clear rhetoric could, under certain conditions, work in favor of the market, even if at a later stage.

This is because, as was noted early on by Euro2day.gr, the head of the Fed on the one hand acknowledged the problem in its dimension, and on the other demonstrated his independence from Trump's logic. A stance that seems, at least initially, to be recognized positively by the community, and is reflected in the significant premium of futures on Wall Street. Indicatively, earlier the S&P500 contracts pointed to an upward "opening" of the session, from 7,619 (0.87%).

At 25,720 (0.78%) the DAX, at 8,181 (0.57%) the CAC40, and at 316.82 points the EuroStoxx Banks. A rise of 0.50% for the index, a parameter that shapes a similar mood at Euronext Athens.

From 10:25' the orders that passed through the system were at higher prices, with the DTR from 3,264 points. Trading range with an upper limit of 3,285 and a low of 3,260 points.

Upward trend for banks, the leading sector of our "shallow" market, enough to shape a similar direction for a broader part of large capitalization.

Inflows from the very beginning into all four systemic bank shares, forming the "quartet" in the top positions of the relevant ranking. At 17.60 (0.35%) the National Bank share, with buyers prevailing also in Eurobank (4.729), Alpha Bank (4.845). From 10.675 euros the absorption of the supply coming out in the Piraeus share.

Alongside the shares of the systemic banks, inflows were activated in several first-line blue chips, with the result that the FTSE25 fluctuated between 6,934-6,969 points.

With buyers prevailing in titles of PPC (24.70), Allwyn (12.575), Metlen Energy & Metals (45.60), OTE (19.79) as well as in DAA (11.06), HelleniQ Energy (18.27).

At 34/33 the ratio of shares with a positive/negative sign, at the start of a session that promises to be sufficiently interesting.

Turnover at 25 million, with 1.27 million through packages. Transactions of 2.53 million shares, 2.03 million of them in banking shares, in the initial 20' of the session.

 

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