With the IT sector acting as “fuel” after the Epsilon Net – General Atlantic deal, the Athens Stock Exchange returned to profit-making territory on a daily and weekly basis, completely absorbing yesterday’s (25/4) import pressures.
Aligned with the positive atmosphere of international markets and an upward “convergence” of all sectoral indices, it hit a new 13-year record, closing near daily highs. Moreover, it was accompanied by a new surge in trading volume, combined with strong support for mid-cap stocks, which benefited from Epsilon Net’s outperformance.
In contrast to previous days, flirting with the 1,450-point mark yielded results this time, as the General Index strengthened by 19.79 points or 1.38%, closing at 1,454.98 points. It moved within a range of 16.29 points, between 1,438.80 (daily low) and 1,455.09 points (daily high). The previous multi-year high of 1,448.70 points (closing basis) is now a thing of the past.
On a weekly basis, the Stock Exchange climbed by 62.36 points or +4.48% (compared to the previous Friday’s closing at 1,392.62 points), and since the beginning of 2024, the performance now stands at +12.51%.
The year-to-date intra-session record remains at 1,462.68 points (24/4), while the immediately subsequent higher closing is at 1,469.03 points (April 15, 2011). Additionally, the ASE has seen a positive trend in 7 out of 8 sessions since the low of 1,357.30 points, with a cumulative increase of 97.68 points, or +7.2%, since April 16.
Upon its return following a one-day trading halt, Epsilon Net locked at €12 today, which is also the offer price, while turnover soared to over €25 million. Additionally, the rally in the stock propelled other players in the sector, such as Quest Holdings, Ilida, Intertech, Quality & Reliability, as well as the duo Performance Technologies – Real Consulting, currently trading on the Alternative Market of the ASE.
Technological rally also observed internationally
The technology sector provided support for international exchanges, as strong first-quarter figures from Microsoft and Alphabet prompted buyers to rally on Wall Street. Already at the start of today’s session, the Nasdaq rose more than +1.5%, followed by the Dow Jones and the S&P 500 in the same pattern.
A similar picture emerges in European markets, with the German DAX and the Spanish IBEX 35 recording strong gains. The British FTSE 100 is on a fast track towards a new all-time high. As for Asia-Pacific, indexes in China, Hong Kong, and South Korea soared +2%, while Australia slipped -1.4%.
