Nervousness and constant changes in the sign were the two elements that dominated the Greek stock market today (23/7), which resonated with the mixed picture of European markets. In the “battle” between buyers and sellers, the 1,480-unit resistance was tested, with the sign at the end being negative after three consecutive rises, in the context of a mild profit taking.

Specifically, in Tuesday’s session the General Index fell 2.2 points or -0.15% to close at 1,480.23 points. It moved in a range of about 8 points, namely between 1,479.83 (low of the day) and 1,487.54 points (high of the day). A small loss, considering that the previous three-day period the GD had “climbed” from 1,446.92 to 1,482.43 points, gaining a cumulative +2.45%.

Investor moves were selective and targeted, resulting in few stocks recording a notable change. Indicatively, Piraeus came under strong pressure and moved away from the psychological threshold of EUR 4. The opposite “route” was taken by PPC and Motor Oil. “Breath” of rise for Attica Bank one day after the (almost) limit down. Turnover was low again, with the absence of investors being more than obvious due to the summer heat.

The Eurobank AGM and the premiere of Softweb

It is the major European markets that set the tone for the stock market, with banks standing out and turnover remaining subdued. The 1,500 mark is just around the corner, again after two months, and the task is for the domestic market not to run out of “fuel.”

Traders welcomed positively the withdrawal of Joe Biden from the US presidential race, hoping that this development will act as a “buffer” to Donald Trump’s chances of winning. This is because the Republican former president and current candidate is threatening tariffs and a tough foreign policy, creating an intense “headache” for investors, especially in Europe.

Eurobank was in the spotlight today due to its general meeting. Shareholders approved, among other things, the distribution of a gross dividend of EUR0.093/mt (EUR342 million), with the payout scheduled for Thursday, July 25, and payment to start on Wednesday, July 31. This will be followed on Wednesday (24/7) by the AGM of Alpha Bank and one day later (25/7) by that of National Bank.

Metlen opens the curtain on its first-half corporate results on Thursday, with estimates optimistic for the group’s profitability. On the same day, Motodynamics also announces its financial performance.

Debut for Softweb on the stock exchange, as the IT company started trading on the Alternative Market board today. Specifically, 5.13 million new shares were included, with the starting price set at EUR 0.86. Without the right to the dividend of 0.047 euros, the shares of Mili Kepenou were traded today.

The picture on the international markets

The prospect of a change in the US election race brought smiles to euro markets as investors hope that Joe Biden’s departure will halt the momentum Donald Trump had gained. Tuesday’s session is unfolding in mixed territory for the major indices, with attention gradually turning to corporate results. Germany’s DAX gains +0.6%, losses -0.5% for France’s CAC 40 and Britain’s FTSE 100.

Marginal changes on Wall Street, with buyers gradually regaining momentum, a day after the bullish breakout and the tech sector’s rebound. The impact of Biden’s withdrawal proved small, as traders had discounted it. At the same time, they assessed the official candidacy of Kamala Harris as she mathematically secured the Democratic nomination.

Asian stock markets were mixed today, with tech stocks taking the upper hand. However, Chinese markets were in a tailspin due to economic uncertainty in the country, as well as fears of a possible Trump victory in the US, which will bring to the surface past pathologies in Sino-American relations.

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