Market Monitor, Market Comment & In the Spotlight
AthEx outperformed most of its eurozone peers for the second day in a raw on Wednesday, even if it did have to settle for losses for the majority of stocks. Despite international unrest the Greek stock market managed to ease pressure as strong near term catalysts provide support to major sectors of the economy.
General index closed at 876.37 points, shedding 0.65% from Tuesday’s 882.10 points. The large-cap FTSE 25 index contracted 0.69% to end at 2,119.05 points. The banks index shrank 1.41%, as National dropped 2.57%, Alpha parted with 1.67%, Piraeus shied 1.62% and Eurobank gave up 0.24%. Losers also included Viohalco (down 2.27%) and Terna Energy 2.24%. Containing the drop of the main index were OTE telecom (up 1.14%) and Motor Oil (0.87%). In total 74 stocks posted gains, 44 counted losses and 43 remained unchanged. Turnover amounted to €65m, up from Tuesday’s €44.5m.
As gas and oil prices de-escalate selective interest may stabilize the market in today’s session.
In the Spotlight
Greece/PDMA: Greece sold €812.5mn of 13-week Treasury-bills on Wednesday, at a yield of -0.40%, unchanged from the similar sale in August, the debt office said. The bid-to-cover ratio stood at 1.77 compared to 1.39 in the previous offering. The government accepted non-competitive bids of 30% of the initially offered amount of €625mn during the auction and may accept another 30% by Thursday, October 7. Settlement will take place Friday, October 8.
PPC: New deal with RWE regarding the installation of new 2GW RES (solar) parks to be signed by the company’s subsidiary PPC Renewables. RWE will maintain the 51% stake in the JV.
§ Group Consolidated September sales up 2.5% whereas 9M:21 consolidated turnover up 8%.
§ Greek sales (e-sales included) +6% with 9M rate (parent company) at +5% (exports deterioration in neighboring partnership operating countries) with restrictions on number of visiting customers .9M growth rate at +3%.
§ Cyprus September sales +6%, 9M:21 +9% with restrictions on number of visiting customers.
§ Bulgarian sales down by 8% in September and +95 in the 9M period.
§ Romanian sales down 1% in September, +20% in the 9M:21.
§ Crucial Q4:21, with Jumbo recording 35% of its annual consolidated turnover, underway with rising energy prices and transportation cost, raw material input costs and supply chain obstacles most likely to take their tall in profitability margins (gross profit level).
MYTILINEOS: On October 5, the company bought 16,449 shares at €14.6140/share for a total consideration of €240.386K. Treasury at 5.1822% of share capital (7,404,881 shares).
PAPOUTSANIS: 9M:21 figures to be published on November 1 following the announcement of top line performance (October 4) a few days ago.
SPACE HELLAS: On October 6, the company bought 1,570 own shares at €9.6566/share for a total consideration of €15.160K. Total treasury at 45,241 shares or 0.7% of share capital.
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