July starts with small losses and the “first” of the second half in Europe, the GD on the Greek stock market below 2,450 points.
The S&P 500 futures are 0.26% lower, at 7,467 points. The DAX 30 at 25,019 (0.09%), the CAC40 at 8,365 (-0.42%) and the EuroStoxx Banks at 291.24 (-0.84%), partly explaining the selling mood on Euronext Athens.
From the pre-opening session, the intention for partial liquidation of positions in bank stocks was evident, with the result that the first orders were placed from slightly lower levels. From 2,752 points, with a small downward gap, and fluctuation within a range of 13 points in negative territory. A “turnaround” from 11:10 onwards, led by Eurobank.
A significant part of orders was in GEK TERNA stock, with trades at 44.02-43.40 euros, following yesterday’s correction and due to the ex-dividend date for the dividend of 0.4092 euros/share. Plus whatever supply emerged in the stock, on the back of information circulating that management is proceeding with a mini capital increase.
Moderate was the flow of orders in the shares of the four systemic banks, with sellers initially having the upper hand in the “quartet” but buyers differentiating themselves shortly after 11:10 in Eurobank. With the stock’s “turnaround” from 4.114 to 4.209 euros, the trend changed also for the DTR, which gradually formed toward 2,777 (0.47%). Then, after 11:15, Alpha Bank followed, with orders from 3.91 to 3.975 covering the dividend (0.065/share) as soon as the first 45 minutes were completed.
An encouraging indication was the absorption of supply also in National Bank stock, from 14.955 to 15.20 euros, with Piraeus taking its turn with orders at 9.114 euros.
Although it is the start of July’s first session, the composition of sellers-buyers in the systemic stocks, in this short period, gives points to those looking to the sector. Far too early for any estimate, however several were estimating that July could be a turning point month, with a transfer of interest/capital from the energy to the banking sector. Far too early, the sample is minimal with just 2.85 million shares out of a total trading volume of 4.26 million shares, however we note it.
Alongside the trend change in banking stocks, a similar move was attempted in specific blue chips, with the FTSE 25 from 6,194 to 6,233 points, upon completion of the first hour.
Buyers had the upper hand in Motor Oil (38,72), Allwyn (14,055), Jumbo (22,60), AEGEAN (12,77), Metlen (40,96), ElvalHalcor (5,01), Lamda Development (6,70).
At 10.70 (-3.71%) the stock of HelleniQ Energy, after the dividend detachment (0.40%), at 22.72 (-1.32%) that of Cenergy Holding, at 22.88 (-0.52%) that of PPC, among the titles where sellers had the upper hand. A dividend-related decline also for OTE.
At 47/57 the stock ratio, with positive/negative sign shortly after 11:30. With turnover at 45 million - increased after 11:15 - and transactions through pre-agreed orders at 4.05 million euros.