A new round of talks with Iran, within the week, is expected by Donald Trump, according to Axios, despite his decision to reject Tehran’s latest proposal for ending hostilities and opening the Strait of Hormuz, while according to the “Wall Street Journal” he is said to have told his associates that he expects the bombings to continue in November, after the midterm elections of his second term are held (3/11).
On the other hand, Tehran made it clear that it does not intend to relax its terms for the reopening of the Strait of Hormuz.
The above statements sent oil higher and brought a new wave of liquidations, along with a parallel increase in yields, in the Government bond Market. Another plunge also for precious metals.
On the ASE, during the overwhelmingly larger part of the session, the General Index moved in positive territory, benefiting from the ongoing “stock picking” on the large-cap board and the continuation of placements in the shares of the systemic Banks while, according to analysts, everything will continue to be examined “day by day”.
Indeed, it could be argued that today’s session surprised even the most optimistic, if one takes into account the clearly more cautious rise of the main European Markets, the negative start of Wall Street, as well as the negative signals that Oil and the bond Market continue to send.
And while only two sessions remain in order for the month, as well as the stock market nine-month period, to be completed, efforts may continue so that the Index consolidates above 2,700 points, with the first sessions of October giving a “foretaste” of what follows.
Beyond that, without a doubt today’s upward move was also bank-centric, something confirmed by the final +2.44% of the DTR, while the close of trading found the Banks sector index at new 130-month highs, with the immediately higher close having been recorded on 11/11/2015 (3396.6 points).
Significant also was the help from the closing auctions, which closed the main ASE indices at their day’s highs and along with them 11 FTSE 25 titles.
Allwyn was at the center of attention, after the decision of Brazilian President Lula to ban online betting. Eurobank Equities rushed to cut the target price to €11.1 from €13.0”.
Beyond that and as previously mentioned, all the issues concerning the Markets are “on the table”.
Bank of America sees a different course in the US and European bond Markets, with its latest estimates incorporating higher energy prices, tighter financing conditions and greater inflation persistence. The Bank’s analysts estimate that monetary policy will remain restrictive, with new interest rate hikes both from the Federal Reserve and from the European Central Bank. In the US, the more “aggressive” stance of the Fed strengthens expectations that the policy rate may move toward 5%.
With the above data, it follows that all market eyes are turned to the next announcements of the Central Banks.
It is recalled that according to the economic calendar, the next meetings - announcements of the ECB are scheduled for 29/10 and 17/12/2026.
The corresponding ones of the Fed are scheduled for 28/10 and 9/12/2026.
The next scheduled monetary policy meetings of the BoJ are for 30/10 and 18/12 and of the BoE for 5/11 and 17/12.
Returning to the ASE and as we approach the end of the period for publishing half-year financial results, namely at the end of September, the pace is expected to intensify mainly from mid- and small-cap Companies.
According to the scheduled announcements of first-half results, today the following announce figures: LOULI, PLAKR, SIDMA, MATHIO, LOGOS, ELSTR, FAIS, CHAIDE. On Tuesday 29 September follow INTKA, OLP, CNLCAP, REALCONS, MEVA, ELIN, DAIOS, INTET, AAAK, GKMEZZ, SANMEZZ, FBMEZZ, SPEIS, BPTK, ATEK, ONYX, REVOIL, EKTER, IATR. On Wednesday 30 September the following publish results: MOUZK, SARAN, MONTA, OLYMP, TZKA, IKTIN, BOSYS, AVE, MENTI, ELVE, YKNOT.
“The remaining Listed companies must publish the interim financial statements of the first half by the end of the month. Attention should focus on changes in the balance sheet, working capital, non-recurring profits and provisions and not only on the increase in EBITDA. Portfolio rebalancing, ahead of the end of the third quarter, may keep turnover at above-average levels, especially in Banks and in Companies recently added to indices”, as noted by Beta Sec.
With small gains the major European Markets, with active investors having focused their attention on Oil and the Government bond Market.
More specifically, the yield on the US 2-year note is climbing to 4.92%, the 10-year to 5.23%. The yield on the 30-year at 5.55%. The yield on the Greek 10-year note at 4.464%.
The General Index moved between 2664.56 (-0.05%) and 2704.8 points (+1.46%). At 17:00 it stood at 2704.8 (+1.46%), through the closing auctions it marked new highs at 2707.85 points (+1.57%) and completed trading at 2707.83 points, with daily gains of 1.57%.
Turnover at 422 million, of which 75.7 million concern pre-agreed transactions (AKTR, ALWN, BOCHGR, CENER, AEM, QLCO, OPTIMA, EUROB, OTE, ELPE, MOH, PEIR, ALPHA, PPC, GEKTERNA, ETE), with EUROB, ETE, ALPHA and PEIR accounting for 52% of the total gross trading value.
Of the total turnover of 422 million, 404.2 million concern transactions in FTSE25 shares.