Alarm in the Middle East, after new Houthi attacks against Saudi Arabia. Critical ballots in Mecklenburg-Western Pomerania Berlin, a new test for Merz. Another interest rate increase by the ECB is also considered almost certain, by the end of 2026, with its economists not ruling out a further rise in oil prices (up to 132 dollars/barrel) and natural gas (up to 130 euros/MWh).
After a week of marginal fluctuations in major stock markets, investors are called upon to weigh the latest developments in the Middle East, interest rates/bonds, monetary tightening. With a slight decline for the S&P 500 at 7,650.50 points, the DAX at 25,305.52, with a slight rise for the CAC 40 at 8,186.93 points.
According to the latest data, the (futures) prices for Brent and WTI stood at $103.19 and $96.08 respectively, the yields on US bonds were at 4.996% for the 10-year and 5.327% for the 30-year, with the VIX/CBOE at 14.81 points.
With a 2.30% correction for the General Index, the last week at Euronext Athens, after Friday's landmark session. With a historic record of transactions/turnover in the much-anticipated rebalancing, with 3.74 billion carried out through the relevant process, with the analysis of how they were played in the related article. Praise but with asterisks, the double message from Moody's, Scope Ratings for the Greek economy.
The government is on alert over the major energy problem, with the Prime Minister referring to a horizontal increase in the allowance and an extension of the diesel subsidy for the whole of October. Developments on the issue may come even tomorrow, with the Chameleon raising his objections.
On the difficult autumn equation for Kyriakos Mitsotakis, Filippos Pantazis focuses. The road after the TIF is difficult, with the energy crisis at the forefront. His three bets on the road to the ballot box.
For the community, the question is reasonable, with mainly two parts. The first concerns the tactics of the more short-term players, with the “close” of next Friday's session as a landmark week horizon. As early as tomorrow, it will become apparent whether buyers will prevail, leading the market above 2,710 points (GI) or whether a correction will follow.
Given that in the last week the largest part of transactions, turnover and interest was concentrated in the banking sector, trading is estimated to remain in the shares of National Bank (17.50), Piraeus (10.285), Eurobank (4.665), Alpha Bank (4.726). Secondarily in Bank of Cyprus (10.60), Optima Bank (13.76), CrediaBank (0.99).
The 112.1 million euros traded in the Bank of Cyprus share caused a sensation, immediately after PPC, Motor Oil, GEK TERNA and OTE. Increased transactions, with a wide fluctuation of orders for titles discussed in brokerage offices. Indicative are the cases of DAA from the FTSE25 and EXAE, OLP from the FTSE Mid Cap.
The second part is related to the medium/long-term outlook of the Greek stock market, in the process for its upgrade also by the house Moody's. There is plenty of time, full of developments both internationally and domestically, which will act as a sieve of reassessment, “pricing” with new data, measures and standards that will emerge by then.
According to Ilias Zacharakis, after an event of importance such as Friday's, downward trends are forming in the market, however without this changing the medium-term one. The five sessions that follow, starting tomorrow, will “show” with greater clarity where the “foreign money” is heading, from where it is reducing positions and in which listed companies it sees opportunities for expansion.
For Manos Hatzidakis, interest is shifting to the companies' half-year results as we move toward the publication deadline: Tomorrow, Monday 21 September, Alter Ego Media publishes figures and on Tuesday Alumil and Thrace Plastics follow, while on Wednesday ADMIE Holdings and KRI KRI.
On Thursday it is the turn of AS Company, EYDAP, Jumbo and AKTOR, with EYDAP and Jumbo publishing their figures before the start of the session. The week concludes with the announcement of figures by the managements of Trastor, Biokarpet, Interlife, EYATH, OLTH and Evrofarma.
At the same time, from tomorrow the Bank of Cyprus share will be traded ex the right to a distribution of 0.24 per share. Technically, according to the head of analysis at BETA brokerage, although the short-term upward trend has not yet been overturned, for the first time after quite some time the pattern of shallow and brief corrections is being called into question.
The area of 2,640 points was the previous “springboard” for the move toward this year's highs and, therefore, a close below this specific zone would noticeably burden the technical picture, increasing the chances of a deeper correction.