The Greek Deal.com
Dividend cuts take away the bullish 6×6 | TheGreekDeal.com
Athens Stock Exchange
Dividend cuts take away the bullish 6×6
After a five-day buying spree that pulled the General Index below 1,400 points, sellers are attempting to retake control of the market, but the Athens Stock Exchange is still above 1,450 points.
Newsroom
TIME TO READ
1 min

The Athens Stock Exchange remains above 1,450 points while the sellers are trying to regain the reins after the five-day buying spree, which took the General Index away from 1,400 points.

The dividend cuts in Piraeus (EUR 0.06), Helleniq Energy (EUR 0.60), and Jumbo (EUR 1.00) are undoubtedly having a negative impact on the short-term trend, given the pressures recorded in the three listed companies.

On the other hand, however, the coolness of foreign markets on French political developments encourages partial risk-taking, especially since Athens is one of the "cheap" markets in Europe.

Against this backdrop, the General Index is down slightly by 0.25% to 1,447.52 points, losing about four points compared to Tuesday's close (1,451.22 points).

The arc of the daily fluctuations extends to six points (from 1,446.52 to 1,452.46 points), with the turnover of the trading volume hovering around 3 million in the first 15 minutes.

Piraeus shares are limited to -1.00% and 3.62 euros; Alpha Bank shares follow at -0.33% and 1.6445 euros; Eurobank shares are trading at -0.24% and 2.10 euros; and National Bank shares are unchanged at 7.89 euros.

In the large-cap index (-0.37% and 3,522 points), the shares of Helleniq Energy, which cuts its dividend of EUR 0.60, retreat to -5.6% and EUR 7.85. Jumbo shares, which as of today do not include the right to the 1 euro bonus, also fell by more than 3.3%. At the same time, Autohellas and Elvalhalcor lose at least 1% each. On the opposite side, the Coca-CCola share expands by 1.3% to 32.6 euros, although the volume is extremely low.

As for the mid-cap index (+0.32% and 2,317 points), the share of Intracom Holdings continues to rise +1.3% and 3.5 euros, while Optima - Kri Kri shares also show gains of more than 1%. On the contrary, shares of Techniki Olympiaki and EYATH are retracing at least 1%.

READ ALSO