By Manos Hachladakis
The Athens market started the week with a “wild” mood, which differed favorably from the international climate, reaching new multi-year highs and comfortably surpassing the level of 1,415 points where it showed trouble in the last sessions.
In particular, the general index ended at 1,422.14 points with gains of 1.22%, mainly at the high of the day (+1.25% with 1,422.85).
Turnover was at a low level, but one that was expected due to the holiday on Wall Street, 87.4 million euros, of which 8.5 million in 13 packages (2 in Piraeus 1.97 million and 1 large value in 2.25 million Intragate) with a trading volume of 21.48 million pieces.
The banking index ended down -0.56% with gains of 1.18% to end at 1,240.55, the FTSE rose 1.4% to 3,462.47, while the mid-cap FTSEM gained 1.41% to end at 2,437.47 units.
As is customary when Wall Street is closed (due to George Washington Day), on a low-key day globally, Athens Avenue showed an interesting contrast, increasing buyers as time went on and eventually turning a session. In the context of maintaining forces on a strong rising day.
Up to about 2 hours GD indicated that it kept a balance with a slightly positive sign, at the beginning it was not bearable (minimum -0.15% of the day with 1,403.23 units) but when it picked up speed and “confronted” with 1,415 units (for the fourth time in the past). He found himself buying stocks, which pushed him even higher.
Limited earnings do not allow for specific results, but another interesting feature of the day was that Athens Street's “steam engine” made a significant rise without a strong contribution from the banking sector.
In contrast, after Pantelakis Securities raised its price target to €36, Jumbo rose almost 4% on €2.3 million in trading, while OTE was the second-highest turnover with +3.5% to €7.5 million. Euros.
Elector rallied 3.75%, Motor Oil +2.94% on turnover of 2.3 million, PPC +1.6% on 2.7 million, Aegean +1.3% and Mytileneos +1%.
Banks fly low on fundamentals but the picture changes in final bids and in turn gives more impetus to DG.
Alpha ended +2% with 6 million turnover, Eurobank +1.05% with 4.6 million, Ethniki +0.98% with 5.1 million and Piraeus 0.7% with 8.66 million – the highest turnover of the day.
On the 25th, only 3 stocks fell (Cenergy, Sarantis, EYDAP) and it ended with small losses of up to 0.34%.
Strong turnover of 4.79 million euros and 4.79 million euros on the back of entry into the MSCI and FTSE Russell indices, boosted by IntraCot 0 in mid-caps (+4%) after Friday's advance. Almost 4 million with Intracom rallied 8% 4.35% with 1.5 million Ideal with +2.76% with 1 million ADMIE with +2.98% and Entersoft +3, 68%.
Contrary to the mood of the day, sellers L. Venizelos fell 1.25% to 8.606 euros, a continuation high of 6.8 million (3rd highest of the day).
In the lower tiers, it is worth mentioning the 11.5% rally of Klukina – Lappa with a turnover of 280 thousand euros, while Q&R was +5.2% with 387 thousand euros.
Across the board, 70 stocks advanced and 59 declined.
Small variations internationally
Internationally, indices in Europe showed slightly downward trends after last week's records, while a new measure of inflation in the eurozone was released on Thursday.
Germany's DAX was -0.14%, France's CAC 40 was -0.04% and the pan-European Stoxx was flat, while the FTSE 100 was trying to edge higher with gains of 0.25%.
Wall Street futures not trading today, as noted above, showed a slight uptrend at Nasdaq +0.19% , while the Dow Jones and S&P 500 edged slightly higher.
However, the general mood remains positive for the US market, with Goldman Sachs upgrading its target price on the S&P 500 to 5,200 points (up 3.9%), putting it on par with “bulls” such as Tom Lee. Global Advisors and Oppenheimer's John Stoltzfus both have a similar outlook.
Finally, the US 10-year yielded 4.315% and the 2-year yielded 4.644%, while the Greek 10-year yielded 3.359%.