A phased agreement is being negotiated by the US and Iran, with traders on the markets on alert. Brent at $105.17, the US 30-year at 5.465%, the VIX/CBOE at 15.67 points, S&P 500 futures up 0.24%.
A marginal positive (0.20%) weekly change for the S&P500 at 7,704.13 points, up to and including yesterday’s session in New York.
A lot of show and little substance in the Trump-Xi meeting, but with AI very high on the agenda of the two leaders.
Investors in European markets are in a wait-and-see stance, with mixed trends for DAX, CAC 40 on a weekly basis.
Marginally negative is, so far, the change for the GD on the Greek stock market. Week’s “close”, with the stance of traders and investors more or less expected the day after the market upgrade, the rebalancing and the triple witching of last Friday.
From 2,642.23 points for the GD, from 3,158.30 for the DTR, from 6,774.39 for the FTSE 25 and from 3,064.69 for the FTSE Mid Cap.
Four sessions after the rebalancing, with the effort of sellers-buyers evident to find common points of reference, as a result of gradual outflows-inflows from/to shares of banks and companies that either participated or were included in international indices.
Two lines of defense are being built for Greek bonds, analyzes Nontas Chaldoupis, serious barbs by Exarchou at the Ministry of Environment and Energy and energy costs, according to Giorgos Fintikakis. Both issues are major for domestic entrepreneurship and the real economy, with their management requiring delicate handling, both by the government and by the parties involved.
Especially regarding energy, combined with inflation, they are emerging as sharp “thorns” for the government and its relations with businesspeople. The political parameter is now also being taken into account by foreign fund managers, as became apparent in the meetings of the executive teams of all four systemic banks at the BofA conference in London.
Also, alongside the relations/balances between government and businesspeople, energy is emerging as a reason for confrontation even among the members of SEV and SVE. Indicatively, yesterday’s samples from CHAMaileon.
What the Elliott waves reveal for GD, Nasdaq, DAX and Nikkei, explains Dr. Panos Dantis. Technical analysis is also useful, taken into account together with half-year financial results, business prospects, and processes/developments on the business front.
In the short term, with today’s “close” as a guide, the key issues are the confirmation of supports (weekly), especially for the DTR with Alpha Bank as the signal-bearer. Yesterday’s “turnaround” was spectacular, especially for Alpha Bank’s share, as it took place with transactions of 7.08 million shares in a price range of 4.403-4.622 euros.
According to a stockbroker, if the return of buyers to the shares of the systemic banks signals the completion of the position reshuffling process, then next week the sector may continue with the aim of surpassing 3,300 points.
Among the interesting points of yesterday’s session, discussed in brokerage offices, were the increased transactions, with significant block trades, in the share of Athens International Airport “Eleftherios Venizelos”. With the biggest rise (3.58%) among FTSE25 shares, with transactions of 1.27 million shares and pre-agreed orders between “big boys”.