Positive sentiment on Wall Street, as the investment community enters the final stretch ahead of Anthropic’s IPO next week.
A mammoth public offering — at a valuation of up to $1.5tn — will naturally require a commensurate backdrop.
It is widely seen as a crucial bet and a test of the resilience of the very system that has generated unprecedented valuations in AI.
The S&P 500 was at 7,619.38, up 1.31%; WTI crude at $86.85; the US 10-year yield at 5.010%; gold at $3,956; and the VIX/CBOE fell a further 10.12% to 17.42 points.
Investors will seek a fourth consecutive gain in European markets today. After three straight sessions of gains, the DAX is at 26,643 points and the CAC 40 at 8,332 points.
Banking is among the sectors underpinning the gains, with the Euro Stoxx Banks index at 276.32 points.
The sector is also leading the Greek stock market, with fresh inflows in yesterday’s session leaving it set to start today at 2,656.13 points.
Bank stocks accounted for 29.76 million shares traded, out of a total of 36.81 million, with significant inflows into Piraeus, Eurobank, National Bank and Alpha Bank. The banking index rose further towards the 3,250-point area.
As we noted yesterday, Piraeus once again recorded the highest trading activity. With 10.45 million shares traded, it rose a further 2.10% to €10.21. Bulls will be looking to establish €10 as a firm reference and support level for the current cycle.
Eurobank, National Bank and Alpha Bank also rose on higher turnover.
Alongside the banks, there were inflows into large caps including Motor Oil, HelleniQ Energy, OTE, Jumbo, Allwyn, Cenergy Holdings and Coca-Cola HBC, lifting the FTSE 25 to 6,823.67 points.
Investors are also weighing corporate activity, developments and financial results.
Dutch retailer Action, a competitor to Jumbo, is establishing a foothold in the Greek market. ElvalHalcor shares will replace Autohellas in the MSCI Small Cap index, while shipping companies are powering ahead, as Chamaeleon noted earlier.