LAST UPDATE 13:40
by Manos Hachladakis
Stocks on course to extend 13-year highs, with buyers showing they are back for good after geopolitical tensions eased in the Middle East, albeit with a more subdued mood today.
In particular, the General Index reached up to 1,458.89 units (+0.76%) but slowed down and is now strengthening by 0.4% to 1,453.70 units. The turnover is also increased today, already at 62 million euros, while 17 million pieces have been traded
The banking index after today’s 3% rally is up 0.75% at 1,266 points, the FTSE is up 0.45% at 3,547 points, as is the FTSEM mid-cap at 2,335 points +0.34%;
The market yesterday broke through the key resistance zone of 1,425 points that had plagued it for the last two months or so and moved even higher to a new 13-year record with another jump of 1.9% and buyers showing that they are back for good, especially after S&P unexpectedly upgraded the outlook for the Greek economy on Friday.
Characteristic of the five-day series is that now the rise is coordinated and liquidity is spread over a large part of the board, and yesterday with a jump in turnover over 160 million euros, as the banks that were lagging behind at the end of last week have returned to the current his famous leading role.
Otherwise, the demand for the new Greek 30-year bond is explosive, as shortly before the closing of the offer book it was more than 32 billion euros, while the interest rate was set at 165 basis points above the mid swap, i.e. close to 4.2%.
On the dashboard
Banks continue to rise steadily with Alpha only being negatively diversified, at -0.2% despite a strong start.
On the contrary, National Bank strengthened by 1.3%, Eurobank by 0.9% and Piraeus by 0.88%.
In the rotation of blue chips, the baton seems to be passing today to Motor Oil with a jump of 2.5%, with Sarantis following closely at +2.2% after the strong results announced before the opening and Cenergy and ELPE at + 1%.
Mood for the fourth day of gains shows PPC at +0.9% and Jumbo for the fifth at +1%.
In contrast, Mytileneos is correcting slightly after its own five-day rally of almost 10%, OTE is down 0.35% and OPAP is marginally up 0.1%.
With a high turnover already of more than 2 million euros (6th highest of the day by hour) the El. Venizelos moves with imperceptible gains of 0.09%.
Among the mid-caps, Intrakat stands out, gaining 1.2% after impressing yesterday with the numbers it presented, and Epsilon rallying 6.8%.
Across the board, buyers now have a slight lead, with 68 stocks moving higher compared to 55 decliners.
The image internationally
In the US, the indices continued to rise for a second day, with gains of up to 1.6% for the Nasdaq, with the futures market showing dispositions to widen the reaction with Tesla’s explosive rally of more than 13% on its side, which disappointed in its sizes but excited investors by saying it will launch a new affordable model in early 2025.
Dow Jones futures essentially unchanged, +0.15% for the S&P 500 and +0.655% for the Nasdaq.
The trends are slightly upward in Europe as well, with the German DAX at +0.24%, the French CAC 40 at +0.35%, the British FTSE 100 at a new record with +0.5% and the pan-European Stoxx 50 at +0.3%.
Yields in the bond market remain at high levels, with the 10-year US at 4.640% and the 2-year at 4.944%, while the Greek 10-year sees its own at 3.488%.
Finally, without particular changes are oil prices, Brent at $88.15 a barrel and WTI at $83.
