A first attempt to keep the Greek stock market in upward territory for a third consecutive day is being made today (15/7) by buyers. The outlook upgrade by Scope Ratings provides the required “fuel”. However, there is a partial resonance with European stock markets, which have been alarmed by Donald Trump’s assassination attempt.
In particular, the General Index is marginally up +0.08% at 1,453.50 points, in a range between 1,453.17 (low of the day) and 1,456.25 points (high of the day). The aim is for the GD to remain above the critical support point of 1,450 points.
“Numb” is the first investor reaction after Donald Trump’s assassination attempt, with European stock markets returning to the red. The likelihood of him becoming US president again have “skyrocketed” and if he is re-elected, the EU has to deal with the possible imposition of tariffs, a scenario that “hurts” traders in euro markets.
On the other hand, a positive catalyst for the stock market is the outlook upgrade of the Greek economy by Scope Ratings. The German rating agency (the first to give Greece an investment grade) kept its BBB- rating unchanged, but made a mini upgrade to the outlook, which is now positive, from stable previously. This paves the way for a possible new upgrade of the rating, to BBB, sooner than expected, as is the case with Standard and Poor’s, as it too had upgraded the outlook.
Without the right to their dividends, ELINOIL (EUR 0.108 – net EUR 0.1026), Voyagiaglou Systems (EUR 0.145 – net EUR 0.13775) and Medicon (EUR 0.06 – net EUR 0.057) are currently trading. At the same time, some 1.22 million new Doppler shares, worth EUR 0.04 each, resulting from the recent share capital increase, are being introduced for trading.
Several other listed companies “cut” dividends by the end of July, so the stock market is expected to receive new shocks, depending on the “weight” of the security and the amount of the dividend. Attention is focused more on systemic banks (Piraeus has already made the cut), which will make the cut between July 25-29, for the first time in 16 years.
