Mixed signs on Wall Street but also a new all-time high for the Nasdaq. Investors are monitoring developments on the US-Iran front, prices in the oil market, and the upcoming visit of Xi Jinping to Washington.
At $98.53 for Brent and $89.29 for WTI, the US 10-year at 4.955% and the 30-year at 5.295%. At 14.21 points the VIX/CBOE and 0.18% higher the S&P 500 futures at 7,778 points.
With these data, the session opens in the European and Greek stock markets. From slightly higher levels in Frankfurt, Paris, with the DAX from 25,578.85 points and the CAC 40 from 8,154.92 points.
At Euronext Athens investors are coming off a two-day period of position restructuring, after Friday's rebalancing, partial “locking in” of capital gains, repositioning and rotation between sectors and individual stocks.
It was known from the outset that the upgrade process, index restructuring and triple witching would be followed by a period of position reallocation, with the aim of maintaining the market at levels that do not invalidate its long trend.
From 2,671.50 points for the GD, with a fluctuation range of 2,665.07-2,687.06 points, fully confirming its technical nature. The more likely scenario is confirmation through to Friday's session close.
Sellers were dominant in all four systemic bank stocks, with trading in DTR shares at 24.09 million shares out of a total of 36.24 million shares. Turnover was 328.9 million euros, with 21.45 million through block trades. In bank stocks and Jumbo, Bally's/Intralot, PPC the main ones.
Yesterday's session showed evident profit taking (Motor Oil, HelleniQ Energy, Safe Bulkers, Star Bulk), as Chameleon noted early on. But also with continued return of buyers to Viohalco, ElvalHalcor, Coca-Cola HBC, steady inflows into Metlen, TITAN, AEGEAN, OTE.
Trends that may continue today as well, although orders with a rollover (rotation) logic are not ruled out. In practice, over the previous two days it has been observed that part of the liquidity (from profits) is being repositioned into stocks that had either underperformed or whose companies are in focus for various reasons.
The announcement of financial figures is one of them; the management of AVAX has already announced EBITDA of 68.3 million in the half-year, while after the close of the session ADMIE and KRI KRI follow. With a rise of 5.03% to 5.22 euros, with trading of 168 thousand shares for the stock of Thrace Plastics, the community “priced in” the group's strong half-year positively.
Leverage for stocks in the broader IT sector, on the occasion of the mega deal of Entersoft/Entersoftone with Hg, with Eva Kandilari analyzing the “next day”. Significant inflows into Space Hellas, Quest Holdings, Profile, IDEAL Holdings, with the community valuing them taking into account the valuation terms (above 1 billion) of the agreement. A mega deal that once again fuels the sector that stands out for its good performance, including in the stock market.
However, for a large part of entrepreneurship and especially industry, the energy issue is a problem that is worsening, without effective management of it being in sight. What Giorgos Fintikakis reports is extremely interesting about the common front of industrial associations on energy costs and the messages it sends. As well as about the silence from SEV which refers to an intervention by Theodoropoulos at the general assembly.