Market Comment
AthEx posted significant losses in the weakest session since August 5 after the announcement by Donald Trump about heavy tariffs on imports to the US.
- Losses were more or less in line with virtually all international markets.
The benchmark at Athinon Avenue reported its biggest daily slump in about six months, having reached a 13.5-year high last week.
- General index closed at 1,507.50 points, shedding 2.70% from Friday’s 1,549.32 points. The large-cap FTSE-25 index contracted 2.85%, ending at 3,670.02 points.
The banks index nosedived 4.02%, as Piraeus gave up 5.16%, Alpha dropped 5.10%, Eurobank fell 4.29% and National parted with 2.77%. Coca-Cola HBC bucked the trend, rising 1.80%.
- In total 12 stocks boasted gains, 121 posted losses and 28 remained unchanged. Turnover amounted to 184.4 million euros, up from last Friday’s €129.2 m.
It seems that markets are entering in a particularly volatile period which is characterized by trade tarrif actions and retaliatory measures.
- Sharp drop may excuse a moderate bounce in the beginning of today’s session yet focus is now shifting beyond fundamentals to geopolitical front and therefore investors will keep a cautious stance waiting the dust to settle.
¢ In the Spotlight
Greece/CPI: January 2025 CPI at 3.1% vs 2.5% in EU and 2.9% in December 2024.
Greece/ Economic Climate Index: The Foundation for Economic & Industrial Research (IOBE) reported that the economic climate index in Greece had improved in January 2025, from 106.4 in December 2024 to 108.6.
- According to IOBE, the uptick is primarily attributed to Industry and Construction, with consumer trust showing a more moderate improvement while retail trade appears to be waning after the holiday period. In the industry sector, the negative outlook for the balance of orders/demand showed a marginal downtick with projections for reserves remaining steady.
Predictions for production in the upcoming month were markedly positive. In construction, negative forecasts regarding business workloads have eased slightly, while positive expectations for employment have strengthened significantly.
- In retail, assessments of current sales have improved moderately, with inventory levels rising slightly. However, short-term sales projections have declined sharply.
The overall economic outlook remains positive, as growth rates show no signs of decline and continue to surpass European averages.
- Inflation is on a downward trajectory and is expected to be lower this year than the previous one, while unemployment continues to decline, positively impacting household real incomes.
Greece/PMI: The seasonally adjusted S&P Global Purchasing Managers’ Index (PMI) for the Greek manufacturing sector stood at 52.8 points in January, slightly lower than 53.2 points in December, extending the current two-year period of continuous growth.
Aktor Holdings: As of today, the 43,478,478 new (CR) shares of the company are admitted to trading on the ATHEX, following the recent share capital increase with rights issue.
- On February 4, 2025: i) the total number of the company’s listed shares amounts to 204,002,463 (CR) shares and ii) the OASIS code of the company on the ATHEX changes to “AKTR” (from “INKAT”).
PPC: Public Power Corp. (PPC), the dominant electricity provider and producer in Greece, announced discounts of up to 40% for retail consumers, a move aimed to absorb what’s expected to be high wholesale prices for February.
- The discounts are among the highest announced by power providers in the country, with PPC saying the rate for February 2025 will be the same as in the preceding month, namely, 0.1548 €/kWh in the “green” program.
Consumers in Greece, similar to other European markets, experienced a “shock” in terms of power and fuel prices after the end of the pandemic and in the wake of Russia’s invasion of Ukraine.
Ideal Holdings: EGM cleared €0.10/share (net) capital return as shareholders’ remuneration.
Alpha Bank: FY:24 results on February 28 before market opening.
Attica Bank: The bank completed on January 31 the securitization transactions of the NPEs portfolios Domus and Rhodium with a total GBV of €3.7bn.
CC HBC: 27,121 treasury shares to be transferred free to beneficiaries based on the company’s stock option reward plan.
Motodynamics: FY:24 results on April 30. AGM on june 12.
στο Google News και μάθετε πρώτοι όλες τις ειδήσεις
