ATHEX – No rhythm and turnover due to holidays – The finale of an adventurous week

The market received the General Price Index at the beginning of the week, closing last Friday, at 893.47 points. That is, one day after the registration of closing at 903.3 points and with transactions until Thursday, after passing 887.15 on Monday intra-conference, it raised it to 900 on Wednesday. But closing yesterday at 893.98, made it clear that Athens was kept out of the climate that has been given to key Wall Street indexes and the pan-European EuroStoxx 600 consecutive high-life records.

Today, therefore, the weekly change will be set as so far there is a marginal increase by half a unit from last Friday. The above is mentioned to justify the assessment that the strong institutions that dominate even more comfortably in transactions at this time, will take care to create impressions that will lead the market to the end of August.

At the stock brokers, most of which are working with skeleton crews, the availability for analysis was limited and they did not comment on the fact that there were no changes from MSCI as much as the phenomenon that some announce upcoming changes without having studied the specifications that the company mentions for creation of its indicators. But almost everyone referred to Axianumbers data. As according to them, the Foreign Shareholder Beneficiaries made inflows of € 46.3m. in July, completing the third consecutive month of inflows, in contrast to the Domestic Beneficiaries of Portions who made outflows of € 46.3m. Foreign Shareholders made 61.6% of the total transactions (purchases & sales) in July 2021, while Domestic Shareholders made 38.4% of the transactions.

Regarding the ability of the general index to move higher, it turned out that this can not happen without the help of the banking sector and therefore without profits for the banking index. However, for eight sessions, this index is moving in a relatively narrow range of prices, which is set between 547 and 561.25 points. We are referring to the period from August 3 until yesterday. Every time the index approaches 560 points, pressures broke out that drove it lower. This happened yesterday the day before yesterday and a total of four times in eight, but the next day or the day after such a downward movement, there was a reaction. This ensured the support that exists when prices marginally exceed the level of 547 points. Today the index will start from 553.2 with a low on Thursday at 551.12 and therefore if the tradition of the last sessions continues it will move upwards. If the pressures continue, its maintenance above 547 will play a role, because if the lower limit of the lateral movement zone is violated, the liquidations will intensify.

Merit Sec considered the information to be worth mentioning, that ALFA is starting the tender process (project Skyline) for the emergence of an investor, who will be its strategic partner in the management and exploitation of a significant part of the real estate portfolio of the group. Interested investors will be invited to evaluate and submit bids for a portfolio of approximately 700 properties, worth approximately € 500m. The submission of non-binding offers is expected to take place at the end of September or the beginning of October, while the selection by Alpha Bank of the preferred investor is expected to take place by the end of the year.

PHOENIX VEGA MEZZ PLC announced that the trading of 1,250,367,229 common registered shares, with a nominal value of € 0.05, started yesterday in the general trading category of the Alternative Market, ΕΝ.Α. PLUS, of the Athens Stock Exchange. The trading code of the stock is PVMEZZ with Latin font. The commencement price of the Company’s shares is € 0.05 per share. Also today the trading of 133,920,002 new common registered voting shares begins, with a nominal value of € 0.04, which resulted from the Share Capital Increase with cash payment and issuance of new shares with pre-emptive rights in favor of the old shareholders.