Headwinds on the Stock Exchange ahead of rebalancing

Refineries and bank stocks are under pressure. Selling in Coca-Cola stock. PPC stock at new highs after the agreement with Amazon. Gains for the two shipping companies.

Headwinds on the Stock Exchange ahead of rebalancing
Εικόνα με χρήση τεχνητής νοημοσύνης (AI generated image)

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Mild correction in European markets, first skirmishes between sellers and buyers on the Greek stock exchange.

S&P 500 futures in New York are 0.48% higher, the S&P 500 in New York, the DAX in Frankfurt at 25,608 (-0.47%), the CAC 40 in Paris at 8,152 (-0.30%).

At $101.97 for Brent, at 4.933% the yield on the US 10-year, at 15.05 points the VIX/CBOE, reflecting the fairly stable situation in the markets, in the last session of the week which for the S&P 500 has a marginally negative change (0.20%), based on yesterday's "close" at 7,637.76 points.

The session started in Athens with a slight advantage for buyers, with a moderate flow of orders and alternation with an advantage for sellers in the 10:30-10:50 interval.

Trading of 1.72 million shares, with 1.18 million pieces in banking stocks and turnover of about 20 million euros a little earlier, investors are adopting a conservative tactic, for the time being. Besides, they have no reason to hurry from so early, as in yesterday's session they were activated from 16:30-16:45 onwards.

It is customary on days of regular rebalancing for the main part of orders and trading value to take place from 17:00 onwards. All the more so, taking into account the extension of trading hours until 17:30.

Within the range of 3,226-3,193 points was the fluctuation for the DTR, with sellers prevailing in three of the four systemic bank stocks.

Between 6,920-6,872 the FTSE 25, with the high recorded at 10:35, as was also the case for the DTR.

Increased inflows from the start into the stock of PPC, with the intention for purchases visible from the pre-opening session. Orders at 24.98-25.46 euros, at new highs, the result of purchases mainly by managers of foreign funds. It is obvious that the preliminary agreement (MoU) with Amazon is a reason for orders at these price levels.

Initially National Bank (17.49) and after 10:50 Eurobank (4.676) had inflows at higher prices.

At the same time, 3 out of 3 for the non-systemic bank stocks, with Bank of Cyprus at 10.59 euros, Optima Bank at 13.40 and at 0.954 for CrediaBank.

Buyers have the upper hand in GEK TERNA (43.06), Metlen Energy & Metals (46.14), TITAN (49.96), while they are returning to ElvalHalcor (3.52) and Viohalco (14.98).

The mood is subdued in the rest of the board, but with competition among shipping companies, as both stocks of Star Bulk at 28.10 (2.11%) and Safe Bulkers at 7.82 (1.52%) are strengthening.

At 47/38 the ratio of stocks with a positive/negative sign. And turnover of 32.8 million euros, without significant block trades, shortly after 11:10.

 

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