Athens market slips to three-month low as banks, telecoms and household names weigh

Greek equities closed lower on Friday with the Athens General Composite dropping 1.74% to a fresh three-month low. Weakness was concentrated in the Banking, Telecoms and Household sectors. Decliners outpaced advancers 101 to 19, while 11 stocks finished unchanged. Notable movers included Kri-Kri Milk rising 2.21% and Metlen Energy & Metals tumbling 5.72% to a 52-week low. In commodities, June gold and May crude oil rose sharply, while major FX pairs were largely unchanged and the US Dollar Index futures inched higher.

Key Points

Athens General Composite declined 1.74% to a new three-month low; losses were led by Banking, Telecoms and Household sectors.
Top gainers included Kri-Kri Milk (AT:KRIr) +2.21% to 20.85, Fais Symmetochon AE (AT:FAISr) +1.43% to 3.55, and BriQ Properties REIC (AT:BRIQr) +1.01% to 2.99.
Major laggards included Metlen Energy & Metals (AT:MTLNr) -5.72% to 32.98 (a 52-week low), Austriacard Holdings AG (AT:ACAGr) -4.45% to 6.65, and Titan Cement International SA (AT:TITCr) -4.08% to 43.50.

Greek stocks ended the trading session lower on Friday, with sector losses in Banking, Telecoms and Household exerting downward pressure on the market. At the close in Athens, the Athens General Composite fell 1.74% to register a new three-month low.

The session's strongest performers on the Athens General Composite included Kri-Kri Milk (AT:KRIr), which advanced 2.21% or 0.45 points to finish at 20.85. Fais Symmetochon AE (AT:FAISr) gained 1.43% or 0.05 points to close at 3.55, and BriQ Properties REIC (AT:BRIQr) rose 1.01% or 0.03 points to end the day at 2.99.

At the other end of the tape, Metlen Energy & Metals (AT:MTLNr) recorded the heaviest loss, dropping 5.72% or 2.00 points to settle at 32.98. Austriacard Holdings AG (AT:ACAGr) decreased 4.45% or 0.31 points to 6.65, while Titan Cement International SA (AT:TITCr) slid 4.08% or 1.85 points to close at 43.50.

Breadth on the Athens Stock Exchange was skewed toward decliners, with 101 stocks falling compared with 19 advancing; 11 issues finished unchanged.

Metlen Energy & Metals (AT:MTLNr) moved to a new 52-week low, slipping 5.72% or 2.00 points to 32.98 at the close.

Commodities trading saw notable strength. Gold futures for June delivery climbed 3.51% or 154.90 to trade at $4,563.90 a troy ounce. In the oil complex, crude oil for May delivery rose 3.46% or 3.27 to $97.75 a barrel, while the June Brent contract added 1.85% or 1.89 to trade at $103.78 a barrel.

Foreign-exchange markets were relatively stable for the euro. EUR/USD was effectively unchanged, moving 0.02% to 1.15, and EUR/GBP was effectively unchanged, moving 0.16% to 0.87. The US Dollar Index futures ticked up 0.07% to 99.78.

Friday's session left the Athens benchmark at a three-month trough, with selling concentrated in several cyclical and consumer-oriented sectors. Market breadth favored decliners by a wide margin, while precious metals and oil posted marked gains on the day.

Risks

Market breadth was heavily negative with 101 decliners versus 19 advancers, indicating potential for broader downward momentum - this primarily impacts equity sectors such as Banking, Telecoms and Household.
Metlen Energy & Metals (AT:MTLNr) reached a 52-week low after a 5.72% drop, highlighting company-specific downside risk within the mining and metals segment.
Sharp moves in commodities, with gold and crude oil both rising, could introduce volatility for sectors sensitive to commodity prices, including energy and materials.

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