of Manos Hachladakis
An immediate upward reaction came out of the Athens market with which it recovered most of yesterday's losses and thus completed a positive week, despite the mined environment internationally due to the Middle East.
In particular, the DG has moved today permanently with a positive sign and has completed its 2.492.71 units with profits 1,49% having been in the high day until 2.499 (+1.74%).
The banking index led the recovery with +2,25% THE 2.847.5 units, the high capitalisation FTSE was strengthened against 1,5% THE 6.340.5 mon. and the mid-term FTSEM 1,04% THE 3.015.1 m.
After the EUR 414.4 million yesterday, the turnover today remained at ECU 262.88 million, of which ECU 55.98 million. in 46 packages (14 in ECTER for 8.1 million, 8 in AKTOR for 11 million, 7 in Alpha for 14.2 million, 7 in Piraeus for 12.7 million, 2 in EIB for 3.5 million, 3 in Eurobank for 2.4 million), with the volume of transactions in 39.39 million pieces.
As a whole, the DG was strengthened by 1,86% driven by the rally 4,98% DTP.
With regard to today's meeting the day's catalyst remained the same, namely oil, but this time with an opposite effect as the mild deescalation of price pressures (Brent returned below $100) showed leaving room for "breathing" on the shares.
In this climate and with buyers taking a lead in Europe (and Stoxx Banks) from the morning, the cracks caused yesterday to banks following the misconception about the implementation of the Euronext Athens upgrade, eventually seemed to have a positive effect, as investors rushed to take advantage of the opportunity of lower valuations.
Furthermore, the industry has received another vote of confidence, now from Jefferies who said "buyer" of Greek banks, presenting what he expects in the second quarter results (the curtain opens with Piraeus next Wednesday 29/6)
Another characteristic of the day was the upward reaction/stabilization of titles that in the last period (largest or nearby) had been found in cloisters of pressure, primarily ELHA but also EYDAP, AKTOR, Credia, Intralot, ABax, in something that could strengthen the weapons in L.A.
From there onwards the image of markets internationally today essentially confirmed that the main regulator for the course of the stock indices (and not only) over the next period will be the development of the conflict in the Middle East, through its consequent impact on oil prices.
The moderate downward movement of crude prices today seems to have been guided mainly by the renewal, essentially, of the Trump tariff wave, which will operate burdensome on the demand side, but not to the extent that it could offset prolonged Gulf oil capacity disruption. It is indicative that Citi is also considering a "suffering scenario for oil that is not unlikely in the second half", with prices above all 200 dollars a barrel.
Moves on the dashboard
As mentioned above, the meeting was a banking centre, with the turnover on the DTP reaching 153m euros (about 58% of the day).
The EIB, with 46.3 million, jumped 3.26% to 15.69 euros and Eurobank (13.2 million) followed closely with +2,6% to 4.36.
Piraeus (35.1 million) was strengthened by 2% to 9.37 euros, while Alpha (42.3 million) was left behind with just 0.05% at 3.91.
Credia (2.7 million) was strengthened by 3.08%, Optima (6 million) also closed to +2% and Cyprus (4.2 million) to +2.16%.
From there on, AKTOR with the 4th biggest turnover of the day at 19.6 million moved stabilisingly with +0.18% at 10.94 euros,
The ELHA (5.8 million) took an upward reaction of 2.49% to 3.71 euros and EYDAP (663 thousand) returned to positive ground with +2.38% to 11.2.
OTE (7.9 million) recovered 20 euros (20.02) with +2.61% and Titan (2.2 million) closed at 51.5 to 1.89%.
Coca Cola (695 thousand) rose 1.78% and PPC (6.6 million) was strengthened by 1.26% to 22.5 euros, having seen Fitch upgrading her to BB..
Only 3 titles in high capitalization moved downhill, Helleniq Energy (2.7 million) with -0.7%, Biocoal (1.3 million) with -1.26% and Cenergy (2.9 million) with -1.4%.
Mid caps saw the strong upward reaction made by Intralot (2.19 million) with a 3.38% jump to 1.10 euros, while IPTO (1.7 million) was strengthened by 1.85% to 4.40.
From then on, ECT moved to 5.35 with -2.19% and a turnover of 8.7 million euros, of which 8.1 million in 14 packages for a total of 1.622 million pieces all changed hands to 5 euros the share. Movements referring to placement as they concerned 5.85% of its share capital.
In the lower layers, Spyros put an end to the vertebral rally... 371% that ran in 6 just after she lifted the suspension of trading of her shares, currently correcting 20.7% at 0.51 euros with a turnover of 14 mm.
A total of 78 titles were completed with a rise and 41 with a fall (81 unchanged).
The technical picture
According to Manos Hatzidakis of Beta Securities, technically the big picture has not been altered, but variability has returned making the support of the 2.440 units more fragile, which was split intra-sessionally on Thursday.
Although the market avoided recording a new low week, this zone was tested for the second time within a short period of time, which weakens its importance as a level of support. Friday's meeting restored the General Index over the mobile average of 30 days, restoring the purchasing mark that had been challenged, but without creating a substantial safety distance from the 2.440 unit zone with the MACD still maintaining a downfall.
On the other hand, M. Hatzidakis adds, the downward price gap in the 2,520 – 2,541 units region is the first and most important short-term resistance zone, the excess of which will require significantly increased transaction volume in order to change the pattern of accumulation in progress. Overall, the potential for market direction next week appears balanced. However, the mapping image of the banking industry continues to emit stronger upward signals than the rest of the market, becoming the key catalyst for a possible new upward deactivation of the General Index.
International movements
In oil there is a mild deescalation of pressures, after the 7% rally yesterday that led Brent higher than $100 a barrel for the first time since May.
Specifically, Brent moves at $97.4 with -3.4% and the American WTI at $89.9 with -2,6%.
European gas, on the other hand, is increased by 3.8% to EUR 64.3 per megawatt hour.
In the shares, Wall Street is in search of direction after losses yesterday with a focus on the technological sector again.
Dow Jones at +0.2%, S&P 500 at +0.1% and Nasdaq at -0.4%, in the first half-hour.
Στην Ευρώπη αγοραστές διατηρούν σταθερό προβάδισμα από το πρωί. Ο γερμανικός DAX στο +1,1%, ο γαλλικός CAC 40 στο +0,5%, ο βρετανικός FTSE 100 στο +0,7%, ο ιταλικός FTSE MIB στο +0,6%, ο ισπανικός IBEX 35 στο +1,3% και η πανευρωπαϊκή υψηλή κεφαλαιοποίηση του Stoxx 50 στο +0,7%.
Σε συνδυασμό με την πτώση του πετρελαίου παρατηρείται μια αποκλιμάκωση των πιέσεων στην αγορά ομολόγων, με τις αποδόσεις να κινούνται πτωτικά.Του δεκαετούς ΗΠΑ στο 4,66%, του γερμανικού τίτλου στο 3,17% και του γαλλικού στο 3,97%, με τον ελληνικό στο 3,90%.
Τέλος, τα μέταλλα κινούνται με ελαφρώς ανοδική κλίση. Ο χρυσός στα 4.070 δολ. η ουγγιά με +0,4% και το ασήμι στα 58,6 δολ. με +1%.
