With the stock market at 200-month highs after the latest upward move, among the ranks of blue chips there are strong divergences in terms of performance, both on a yearly basis and on a monthly basis.
The protagonist remains GEK TERNA, with a return of 81.8% since the beginning of the year. Over the last 30 days the stock strengthened by 7.84%, as the market priced in and then welcomed in a particularly positive way the private placement and the share capital increase. The company ultimately raised about 659 million euros, with offers reaching 3 billion euros, securing strong financing for its new investment program and significantly widening the free float, a development that also strengthens the chances of inclusion in MSCI Developed Markets.
A similar picture is seen in PPC. The stock recorded a 10% rise in the last month, lifting its performance this year to 30.2% and driving the price to 23.70 euros, a new all-time high. The main catalyst was the exceptionally successful share capital increase, which attracted strong demand from international portfolios and upgraded expectations for financing the group's investment plan.
ADMIE also showed strong momentum, posting a rise of 12.21% over the last 30 days, resulting in the return since the beginning of the year reaching 48%. After the capital increase, the market continues to value positively the large investment program in electrical interconnections and the steady increase in regulated revenues.
In Coca-Cola HBC, the 19.1% rise of the last month lifted the total return for the year to 33.1%. The stock continued to attract capital after positive reports from foreign houses and the resilience shown by its financial figures.
AVAX strengthened by 11.5% in the last month, with gains since the beginning of the year reaching 30.6%, while the stock is now moving at historically high levels. Investors continue to price in strong profitability, supported by the high backlog of projects.
Motor Oil added 3.64% in the last month, driving the annual return to 31.8%, while the stock is also moving at all-time highs. Interest was strengthened after positive analysts' reports on profitability prospects and the higher target prices published for the sector as well as the deal in the making with the Aktor group.
A positive picture is also maintained by Helleniq Energy, where the 6.89% rise of the last month lifted the annual return to 31.7%, as well as OTE, which with gains of 7.61% in the last 30 days reached 15.7% since the beginning of the year. Metlen strengthened by 4.1%, limiting its losses for the year, while Aegean, with a rise of 6.93%, is attempting to recover part of the lost ground (-9.1% for the year).
With one foot on the brake
On the other hand, some of the year's major protagonists seem to be entering a phase of digesting gains.
The most characteristic case is Cenergy. Although it still records the impressive return of 54% since the beginning of the year, the stock fell by 7.45% over the last month. The correction came after the successful placement, through which the stock's dispersion increased and new institutional portfolios entered.
A similar picture is also seen in ELVALHALCOR. Despite the overall rise of 32.3% since the beginning of the year, the stock fell by 3.86% in the last month. Next week the General Meeting will take place that will ratify the upcoming capital increase.