By Manos Hachladakis
The Athens market entered the new week “on the right”, showing resilience against the euromarkets’ combined decline in the wake of the European elections and the political instability they caused, particularly in France.
Specifically, the general index ended at 1,458.84 points with an increase of 0.03%.
However, the turnover was very low at 79.6 million euros, of which 2.3 million were in 4 sets (1.5 million in Eurobank the largest) and the volume of transactions was 17.84 million pieces.
The banking index erased losses of up to -2.11% (1,268.7 points) to finally close with a substantial gain of 1.22% at 1,311.85 points, while the FTSE gained 0.15% at 3,546 points, while the FTSEM mid-cap fell. 2,321.88 points with -0.2%.
Buoyed by the 3-day bull run that ended last week (GD gained 1.85% in five days with a 4.4% gain in the bank index), today the market showed resilience against the Pan-Hurricane. European liquidation and keeping the difference it showed.
In the first phase, Pan-European and DG went down to 1,440.91 points (-1.2%) in a broad climate, mainly in banks, on Athens Avenue, but an offer also came in the bank through the activity of buyers. The slogan of the reaction was given to the sector and mainly to the Eurobank to completely differentiate the Greek market from the European boards.
The “stars” of the day, however, included low turnover for another session, as well as an apparent selling approach based on the overall picture on the investor board, with 71 stocks closed compared to 52.
Image on the dashboard
In general, the banks still have a day “half session” with a total turnover of 79.6 million 36.7 million, and today’s protagonist Eurobank (9.2) raised 3% 2.164 euros.
Ethniki (11.7 million) moved with +0.8% to 8.33 euros, Piraeus (9.8 million) with +0.39% to 3.825 euros and Alpha (5.9 million) to 1,623 euros.
From there, the market saw significant support in TERNA Group’s stock on rumors of an imminent deal with the sale of TERNA Energy. Energy (3.5 million) 18.85 euros +0.96%.
Lambda (594k) also edged up 1.5%, OTE (3.6m) strengthened slightly by 0.36% but pared losses of 1.5%, PPC (3.8m) finished +0.27% from -1.54% and OPAP (4.6m) +0.13. % -1.81%.
Conversely, sellers Mytilineos (4.3 million) -1.14% to 36.54 euros, Motor Oil (3.2 million) -1.6% to 25.7 euros, Jumbo (2.39 million) -1.6% to 27 euros, Titan (688 thousand ) with -1.45% First 30.6 euros and Ellactor (670 thousand) -1.62% with 2,435 euros.
Outside the FTSE, Optima (1.35 million) rose +0.5% and AIA (1 million) rose +0.24% with smaller gains.
In mid-caps, Intralot (642 thousand) recorded losses of 1.55% to 1.14 euros, while Intrakat (415 thousand) erased 2.5% losses and ended with a small gain of 0.2%.
In the lower tiers, EKTER made a new rally by 7.75% to 4.59 euros after +8.4% on Friday, with a strong increase in turnover to 531 thousand euros.
On a technical level, Ilias Zacharakis of Fast Finance points out that the stop on the general index is at 1,423 units at the end of the day. 1,423 is the main one with close support of 1,445 units. Focusing more on the level of 1,475-1,480 units, which has become the main resistance and only consolidation can bring us to the level of 1,500.
Elsewhere, in finance, US inflation data for May is released on Wednesday and the Fed’s meeting ends later that evening, with rates expected to remain unchanged following the ECB’s 25 basis point cut last Thursday.
Film internationally
Internationally, the US market on Friday maintained the week’s gains with somewhat lower trends today despite minor intraday losses.
Dow Jones -0.09%, S&P 500 -0.1% and Nasdaq -0.06%.
In France, after the landslide victory of the far-right “National Alarm” (Rassemblemant National) and Marine Le Pen in the European elections, President Macron dissolved the National Assembly and announced early elections, moving the country’s markets. Significantly downward, it rates the political instability that brings about the end.
In particular, the CAC 40 moved at -2%, pressures were sent to other indices, the government coalition in Germany also received a strong blow, the DAX -0.7%, the British FTSE 100 was at -0.45. % and the pan-European Stoxx 50 -1.2%.
Bond market yields are showing upward trends with the US 10-year at 4.462% and the 2-year at 4.883%, while the 10-year in France rose to 3.221% and is now above 10 basis points. points, the German 10-year is strengthening at 2.67% and the Greek 10-year at 3.751%.
Finally, oil remains at $80 a barrel and Brent at $80.05. and WTI at 76 dollars.