LAST UPDATE 13:22
by Manos Hachladakis
The Athens market is moving strongly upward for the fifth consecutive day, led by the banking sector, moving towards new 13-year highs, taking advantage of the generally positive climate in markets worldwide.
In particular, the General Index moves to 1,434.9 units with an increase of 1.03%, while earlier it moved up to 1,437.41 units. (+1.2%), Turnover has increased to 60 million euros, with the volume of transactions at 14.4 million pieces.
The banking index led the rise with gains of 2.2% to 1,241 points, the FTSE strengthened by 1.2% to 3,496 points, while the FTSEM mid-cap trailed lower at 2,305 points with +0.4%.
With a four-day bullish streak, which escalated yesterday with a 2% jump, the market immediately regained the lost ground of the correction made by the DG amid a global bearish climate against the backdrop of geopolitical tension between Iran and Israel, with banks in the last session retracing dynamically in their familiar leading roles giving the extra push Athens Avenue was looking for.
And the investment mood seems to be maintained unabated, with the DG not only having passed the key short-term resistance zone of 1,420 – 1,425 units (which, if secured in closing, paves the way for further movement up to 1,470) with typical comfort, but and now looking for a new 13-year high.
On the dashboard
In the day’s movements, the banks are back on the buyers’ radar for good, with Piraeus at +1.8%, Eurobank at +1.7% and Alpha and Ethniki at 2.5%, occupying 4 of the top 5 turnover positions.
In second place, breaking up the banking sector, Mytileneos continues for the fifth day strongly upward with +1%, just like PPC from where it ended yesterday with new gains of 1.15%.
In the rest of the buyers’ options, Titans jumps 2.77%, Sarantis follows closely with +2.2%, Viohalco strengthens by 1.6% and ELPE by 1%.
Jumbo moves with gains of 0.8%, OPAP slightly up with +0.5%, while OTE is down slightly by 0.2% and TERNA Energy by 0.55%.
Lambda and Quest move correctively after yesterday’s strong gains, at -1% and -2% respectively, while Autohellas limits pressures to -0.5% as it has been trading without the right to dividend since yesterday.
In the mid-caps, Ideal stands out with a jump of 2.55% after reaching an agreement for the sale of 100% of Astir to Guala, Thrace Plastics is up 1.9% after its results and Intralot by 1.4%, while Intrakat continues to decline today with -0.9%.
From there and beyond El. Venizelos is up 1% and Optima is up slightly by 0.4%.
The lead of the buyers remains clear in the whole board as well, where 73 stocks are moving up against 49 down.
The image internationally
On the international front, the US market entered the week on the right foot yesterday, breaking a six-day losing streak (for the S&P 500 and Nasdaq) with the futures market continuing slightly higher today.
Dow Jones futures +0.17%, S&P 500 +0.2% and Nasdaq +0.25%.
In positive territory for the second day and the European indices with the British FTSE 100 strengthening by 0.5% having recorded a new record high at 8,067 points, the German DAX at +1%, the French CAC 40 at +0.5% and the pan-European Stoxx 50 at +0.95%.
The bond market continues without particular changes, with the yield of the 10-year US at 4.617% and the 2-year at 4.985%, while the Greek 10-year is at 3.404%.
Similarly in oil, Brent trades at $87 a barrel and WTI at $81.9 with subtle changes.
