Athens Exchange: New foreign investments behind the increase in the general index

The inwards were completed with 9.99% profits in the first quarter of 2024, despite the small retreat – of the order 0.17% – in the month of March, interrupting the upward streak of the previous four months. Specifically, the Greek market on the Athens Stock Exchange, at the end of the quarter, is in the ninth place of the world’s returns, among international markets, retreating from the fourth place in the first two months. The average daily transaction activity itself was launched at the pre-Lehman Brothers levels, more than 15 years back. The average daily transaction value was launched, mainly in March, which is largely due to the start of the Piraeus stock trading, as part of the 27% positionment. The average daily transaction value in the first quarter of 2024 was EUR 146,046 million, increased by 32% over 2023. The average daily transaction value, in 2023, was 111.0 million euros, deleting a 50.6% increase over 2022 (73.7 million euros). Particularly in March the average daily value of transactions was EUR 225,228 million, EUR 125,892 million in February and EUR 100,5 million in January 2024. The total value of transactions in the first quarter amounted to EUR 8,909 billion, of which EUR 4,054 billion concerned trade in March, EUR 2,644 billion in February and EUR 2,211 billion in January. At the same time market capitalization is a breath of the EUR 100 billion. Overall market capitalisation increased in the first quarter of 2024 by EUR 9,947 billion. AIA’s entry into the Athens Stock Exchange, the disposal of 27% of Piraeus’ shares, the National Placement last November, combined with the performance of the Greek economy and the recovery of the investment tier brought new international investment funds to the Greek capital market, contributing decisively to the significant increase in trade in the stock market. “The Piraeus transaction has no precedent no matter how far back we go. Secondary sale of this share capital amount, with such a great excess of such quality investors and with an overestimation has no historical precedent”, as the CEO of TCS Ilias Xerouchakis stated, The success of the sale of the shares of Piraeus Bank (27%) is recorded as the largest historical privatisation through secondary placement with the price level reaching 1.35 billion euros. In the case of the National Bank, the 22% divestment of the EFSI raised the 8 billion with the total price of EUR 1,067 billion. The iconic introduction of El. Venizelos, last February was not just a new company introduction but a move that recomposed the Greek market abroad. More generally, the interest of investors in Greek assets increases sharply after the recovery of the investment tier. A fact that is reflected in the major offers for Greek assets, which exceeded 60 billion euros, in the last 5 months. The overcovering of the publications of AIA and Piraeus, as well as the National Last November brought back to the Greek market large international “players” such as Capital Group, Fidelity, BlackRock, Lazard, Norges, etc. The odds in the 3 months The high capitalization index closed the two-month period with 9.53% earnings, the mid-capitalization index with a 6.35% rise, while the banking index won 12.56%. The highest yield, in the January – March 2024 quarter, was recorded by the shares: Q&R (+120.83%), Moda Bango (+72.02%), Kyriakoulis (+59.53%) and Hebropharma (+50.0%). On the contrary, the largest decline was noted by the shares: Akrititas (-26.61%), Progressive (-23.16%), Kecrops (-19.49%) and Cloucinas-Lappas (-14.86%). Of the shares in high capitalization, the largest rise was recorded by Sarantis (+40.48%), GEK TERNA (+28.27%), PPA(+24.14%), Titan (+24.01%), Piraeus (+21.25%), Motor Oil (+16.75%), National (+15.36), ELPE (+14.56%), Terna Energy (+13.3%), Coca Cola HBC (+11.13%), Aegean (+10.58%) and Eurobank (+10.56%). Smaller profits are recorded by OPAP (+8.52%), Jumbo (+6.29%), Quest (+6.44%), Elvalhalcor (+6.05%), OTE (+5.97%), Alpha Bank (+5.91%), Viohalco (+5.22%), PPC (+4.21%), Autohellas (+4.77%) and Greece (+3.44%). Unlike a fall in the quarter the shares of Mytilene (-2.56%), EYDAP (1.65%) and Lamda -0.15%) were closed.

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