by Manos Hachladakis
Today, the Athens stock exchange followed a course of negative differentiation from the international charts, with the title of OTE acting as a “weight” from the start after the announcement of its results, while along the way sellers also focused on the banks, with the exception of National Bank.
In particular, the General Index ended at 1,218.07 points, down -0.75% but far from the lows of the day, with a range of 17.38 points (high at 1,230.76 with +0.28% and low at 1,213.38 with -1.13%).
Turnover was kept at limited levels at 81.6 million euros, of which 5.4 million in 10 packages (the largest 1.37 million at NBG) with a volume of 23.5 million pieces.
The banking index led the decline with losses of -1.47% to 968.94 points, the large-cap FTSE fell 1.02% to 2,962.7 points, as did the mid-cap FTSEM which lost 0.6% to 2,003 .71 units.
In the same pattern as the previous two days, the market initially explored its strength for an upward move in the first hour of trading, however, buyers ran out of strength and by midday, sellers re-emerged who took the reins and held them until the close, leading DG up to the supports of 1,215 units.
In the international news, however, at the present stage, the bullish scenario for Wall Street – and consequently for the shares worldwide – has taken precedence, with room now for the looming end of interest rate increases and the de-escalation of pressures on bonds.
It is also indicative that the major index of the American market, the S&P 500, completed 8 bullish sessions yesterday (albeit with marginal gains) and is looking at the 9th today, in its longest streak since 2021.
Similarly, in Europe after two corrective sessions at the start of the week, indices returned to the upside yesterday and today, with the DAX up +0.64%, CAC 40 up +0.9%, FTSE 100 up +0.7 % and the pan-European Stoxx 50 at +0.9%.
In this context, today’s downward movement in Athens should probably be attributed to the negative reception of the results of OTE, whose decline favored the climate for further sales, even at a time when investors are “saving strength” for the timing of the disinvestment of the HFSF – initially with Alpha Bank but also with National Bank.
On the board, OTE finished with a plunge of 5.22% and a turnover of 11.5 million euros, Motor Oil with strong losses of 3.5% and 2.5 million, Mytileneos lost 1.93% with mixed transactions of 3.2 million and PPC 1.71%, with 2.7 million
In the banks, National Bank saved the sign in the end with a small increase of 0.15% and the second largest turnover of the day at 10.7 million, while on the other hand Piraeus lost 2.3% with 10.3 million and Alpha and Eurobank retreated by 1.9% each.
Some support was provided by Jumbo with a rise of 0.98% and a turnover of 7.1 million euros, Titanas strengthened by 1.28% against the background of the more than doubling of its profitability to 198 million euros in the 9th month and Ellaktor made a strong jump 6, 7% with a turnover of approximately 700 thousand euros.
Otherwise, Intralot which continued today with a strong turnover of 1.86 million (11th largest) initially reached prices up to 0.828 euros (+4.15%) but along the way slowed down and closed at -0.25% ( 0.793 euros).
In FTSEM, Intrakat increased by 0.57% with a turnover of 1.16 million and its capitalization now at 560 million and AMDIE by 0.74% with transactions of a gross value of 821 thousand euros.
Ideal saw its EBIDTA and turnover more than double in 9M, with net profit at €22m, a jump of 83%, but investors showed they had discounted the developments and its stock fell 1.75% on turnover 190 thousand euros.
In the lower strata it is worth noting the +1.2% of EKTER with a high turnover of 620 thousand euros.
Overall the signs were split across the board, with 46 stocks advancing and 47 declining.
Elsewhere, it’s worth noting that after about a year and a half, Bitcoin recovered to the levels it was trading at around the time of Terra’s resounding crash, which marked the beginning of a broader cryptocurrency market crash.
The crypto flagship is now trading at $37,400 with a jump of 3.7%, marking the highest level since May 6, 2022.
In the bond market, the Greek 10-year yield falls to 3.86%, while the US 10-year bond rises slightly to 4.586%.
Finally, in the oil market, the contracts are recovering slightly from the 3-month lows, with Brent at $80.8 a barrel and WTI at $76.5 and gains in the region of +1.6%.