Public Power Corporation

Thursday's bourse session at Athinon Avenue proved to be a so-called bull trap, as it attracted buyers at the start with the temporary gains recorded before stocks slumped to losses. This has made it five sessions of decline in a row, with the benchmark approaching the 1,400-point level. The day's action-packed session saw turnover improve considerably.

Not only did the benchmark of the Greek bourse recover all its Wednesday losses on Thursday, but it also did it on increased turnover, which confirmed that local stocks are gathering interest again this month. The rise in prices was led by non-bank blue chips, especially those in the energy sector, but extended across the market.

Foreign pressures brought prices down on the Greek stock market from the start of Wednesday's session, but many stocks reacted toward the end and contained their losses considerably. Likewise, the benchmark regained some of the ground lost over the course of the day and its decline upon the close will not concern observers, as it points to a likely rebound. 

DES increased its retail share of Public Power Corporation as for July, which was the month of big current price increases, it increased its market position to 54.18% from 52.5% in June.

Fifty-five percent from 52.5% of the previous year’s 52.5%, up from 52.52% in 2002.

Banks led the Greek stock market to a remarkable rally on Wednesday, which compounded the month's gains to see the benchmark at Athinon Avenue end July 5.26% higher than its level at end-June. The interest in the market was also highlighted by the significant increase in turnover, though rising stocks only marginally outnumbered decliners on the day.

Water stocks in the reservoirs of Public Power Corporation's hydroelectric units are at their lowest levels since 2017 due to minimal snowfall last winter.

In addition, hydroelectric plants have had to increase production recently in order to meet the demand for electricity from both the Greek market and neighboring countries.

Some of the wholesale electricity price hikes may well, after all, be absorbed by the market in August, as shown by Wednesday's announcement by Protergia - Greece's second largest provider - to keep tariffs unchanged from July levels. In addition, Protergia will also absorb the increases for small businesses, which cannot be subsidized without prior approval from the European Commission.

With a bill put to public consultation, the Ministry of Economy and Finance has moved forward with the radical restructuring of the Superfund or Growthfund. 

With a vision to transform into an economically and environmentally sustainable, modern, digital company, PPC is securing a leading position in the field of Renewable Energy Sources (RES).

Tuesday's mixed session on the bourse showed a lack of clear direction in the market, with banks heading lower, mid-caps closing higher and the benchmark as well as the blue chip index ending up practically unchanged. That sufficed to make it five days in a row for the benchmark's growth, a performance not seen in three months at Athinon Avenue.