Selective liquidation remains in place for the second day in a row for Athens Airways, following yesterday’s moves to ease off recent multi-year records. Uncertainty in global markets is at an all-time high due to the judicial “back and forth” over US tariffs, which were temporarily put in place after their initial cancellation. However, the current picture does not threaten the strong gains in May – 7th consecutive month of gains – with the “myth” of sell in May and go away being debunked this year.
Specifically, in Friday’s (30/5) session, the General Index is down -0.35% and trading at 1,852.70 points, moving in a range of about 7 points, specifically between 1,851.10 (low of the day) and 1,858.15 (high of the day). The GD is returning to weekly gains, as it needs to retreat more than -3.05% or below 1,802.34 points (May 23 close) to lose the positive sign.
The HA is “running” at a +9.48% pace in May, with today’s session remaining to complete the month. At +26.5%, the return this year. It should be noted that on Thursday, it succumbed to profit-taking pressures in the wake of the preceding three-day rally that had taken the GC close to 1,900 points and a 15-year high (April 2010).
Trading value is expected to reach high levels in today’s auctions as institutional portfolios will make structural moves as part of the quarterly rebalancing of MSCI indices that was completed a few days ago, with PPA being included in the Small Cap. It is recalled that there were no changes to the MSCI Greece Standard core index.
Scope Ratings will publish its report on Greek debt tonight, attracting the attention of the domestic investment community. The German house will decide whether it too will upgrade the Greek economy later this year, following Moody’s, Standard and Poor’s, and Fitch, or whether it will keep the rating unchanged at “BBB” with a stable outlook.
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