Investors attempt to regroup in European, unconvincing for the time being in the Greek stock market.A small decline in oil prices, bond yields, but investors remain very cautious in the stock markets.
At $103.085/barrel Brent, at $90.513 Crude WTI, at 5.241% the yield of the US 10-year, marginal decline for those of Germany (3.457%), Japan (3.019%), while France's remains steadily close to 5% (at 4.825%).
From the stance so far of the more short-term players, it appears that for the community the problem is both very active and its immediate easing is not in sight. In practical terms, the bonds/debt-interest rates problem is being assessed very seriously, it affects traders' tactics, according to yesterday's analysis by Dr. Panos Dantis on the three possible scenarios and the risks for Greece.
It should be noted that the PDMA is acting with alternative scenarios, with one of them “seeing” the 10-year yield even at 5%, with whatever this may mean for the cost of money (both for the State and for entrepreneurship).
With a 0.27% premium, the futures of the S&P 500, at 15.64 points the VIX/CBOE and in Frankfurt the DAX stands at 25,024 points (0.65%), in Paris the CAC 40 at 7,794 (0.84%), but in Athens the GI barely reacted up to 2,591.73 points.
At 292.05 points (0.94%) the EuroStoxx Banks, in a range of 293.23-290.36 points, but without corresponding activity on the Euronext Athens.
From 3,037.26 points the first orders in bank shares, in a narrow range and with two phases of partial liquidations, with the result that shortly after 11:05 the index “turned” marginally into negative territory and traded around zero. Orders are focused on the four systemic banks' shares today as well, third consecutive session with sellers having the upper hand.
Indicative is that shortly after 11:15, out of a total of 6.5 million shares traded, 5.6 million had been carried out in Eurobank, Piraeus, National and Alpha Bank. The fluctuation is within narrow ranges, an indication that sellers-buyers are searching for prices-reference points for their exchange of positions. There is demand at prices up to 4.2% lower (on a weekly basis), but at the same time the continuous supply from specific foreign portfolio managers is evident.
In the broader area between 2,990-3,235 points, a redistribution of positions in bank shares has been taking place since Wednesday. According to a stockbroker, this could be the result of the intention of (potential) buyers to position themselves in the sector from lower prices, something facilitated by the two-day decline (Wednesday-Thursday).
Whether and to what extent this is true will be seen next week, as for the time being the DTR is “counting” losses of 4.2% over the course of a week. The weekly correction stands at 2.6% for the FTSE 25, at 2.5% for the GI, in a cycle of 4-5 sessions with increased transactions/turnover, with the largest part (about 55%) in Eurobank (4.409), Piraeus (9.616), National (16.125), Alpha Βank (4.224). Optima Bank (14.51), AKTOR (9.21), PPC (22.60), GEK TERNA (41.26), ADMIE (4.085) and Metlen Energy & Metals (47.82) completing the top ten.
At 59/42 the ratio of shares with a positive/negative sign, at 55.2 million euros the value of transactions, with 11.1 million euros through pre-agreed orders. Among the shares with gains, the new listing Veralis at 1.14 euros (20%), with transactions of 1,000 shares upon completion of the first hour.