A satisfactory start to July in the European stock markets, three sessions of continuous rise in the Greek stock market. From 2,444.86 points, Wednesday's (1/7) intraday low, to 2,543.71 points, Friday's (3/7) intraday high, the longs continued in June's upward pace, with the indications so far pointing to a similar continuation.
The fact that during this period strong groups have proceeded with capital raising (share capital increases, bonds) without the trend being interrupted, demonstrates the substantial upgrade of Euronext Athens, as it has become one of the most profitable investment destinations for "foreign money".
The recent period had the character of a "stress test", as significant capital increases were absorbed, indicative of the increased interest from foreign fund managers. At 187.2 billion euros the total valuation of listed companies, a historic figure (considering that in 2007 the number of companies was almost double), with capital increases acting to strengthen the deepening of the market (and not subtractively as, as a rule, happened in other periods).
Now six listed companies have a valuation greater than 10 billion (Coca Cola HBC, Eurobank, National Bank, PPC, Piraeus, Allwyn),, a total of thirty with a market value above one billion, which practically means that sufficient size is gradually being formed in the prospect of upgrading Euronext Athens.
However, the economy/business activity has also entered a (pre-)election period with whatever that could mean for investments as well. Philippos Pantazis refers to the bidirectional targeting of Maximou, with the government seeking "receptive ears" in two directions.
Among the major problems for the government is high prices, with the competent minister convening yet another meeting next Thursday. The meeting of Development Minister Takis Theodorikakos with representatives of the supply chain, with the aim of determining the framework for implementing price reductions on basic consumer products from the beginning of September. Why from September, I don't think needs an explanation...
At 2,537.23 (1.27%) the GD, at 2,862.50 (1.35%) the DTR, at 6,441.13 (1.32%) the FTSE 25, with interest and inflows being distributed among several stocks, both in the banking sector and in blue chips and specific mid caps.
At 259.8 million euros turnover on Friday, with a holiday on Wall Street, shaping an average daily trading value noticeably higher than the corresponding period of 2025. At 26.94 million shares the transactions, at 14.09 million shares in banking stocks.
At 25.66 million euros the transactions through pre-agreed orders, strengthening our estimate that the market is in a phase of position rearrangement and not distribution. Restructuring, with a steady inflow of "new capital" at 200-month highs, points more to continuation toward higher levels than to a decline.
Obviously corrections are part of the game, however after every "dive" the reaction that follows, the recording of new highs takes place at new peaks.
Next Thursday the minutes of the Fed will be published, which after the announcement of job data lower than estimates, will very difficultly proceed immediately to an interest rate increase. I remind you, on July 28-29 the Fed meeting, preceded on the 22-23 by the ECB, with interest rates remaining among the "keys" of the tactic followed, first of all, by traders.
At 7,483.27 points the S&P 500, with futures 0.47% higher (again above 7,500 points). Encouraging is the fact that the losses of the Nasdaq were offset by the outperformance of the DJIA, which formed at new historic highs. At 52,900 the index, which means that money is being transferred from AI and technology sectors to others.
For Euronext Athens, and especially the blue chips, informative the article about those that have their foot on the...gas (GEK TERNA, PPC, ADMIE, Coca Cola HBC, Motor Oil, AVAX, HelleniQ Energy, etc. ) but also on the...brake (Cenrgy Holdings, ElvalHalcor).
From tomorrow Monday through Wednesday the public offering process of Seanergy's corporate bond will "run", with the yield range at 4.90%-5.20%. Also tomorrow, without the dividend for the fiscal year, the shares of Elton Chemicals (0.065/share) and FAIS Holdings (0.155) with the right of partial reinvestment) will be traded, while on Friday it is Medicon's turn (0.15).
General meetings of interest, on Wednesday for AKTOR and Jumbo, on Thursday for ElvalHalcor, with the main topic being the approval of the share capital increase (250 million euros)
On Wednesday Lamda Development announces quarterly financial figures.