Τhirteen stocks appear to be leading the August rally on the Athens Stock Exchange, which in eight sessions has offered an average return of more than +6%.
In fact, it is very likely that the current month will be the 10th consecutive profitable 30-day period for the General Index, something that has never happened before in the history of the Greek market.
Since the beginning of August, investors seem to have mainly targeted 13 stocks of the High Capitalization, which have delivered gains of up to 20%.
The “new” Metlen, which made its debut on August 4 is one of them. Until yesterday, the cumulative change of the listed company, which is also traded in London, has reached an impressive +19.4%, having exceeded 56 euros/share or 7.3 billion euros.
Among the “hot” stocks is Aegean Airlines, whose price has taken off by +13.4% in August, flying to the best levels of all time (> 14 euros).
In the banking sector, the share of Bank of Cyprus share, driven by the fundamentals of the first half of the year, the interim dividend of 0.20 euros/share and the attractive valuation (P/E below 6.5x), has soared +12.1% to new historical highs (7.4 euros) in August.
Alpha Bank shares follow (+8%), Piraeus Bank (+6.6%) and National Bank – Eurobank (6.3%). It is worth noting that all four are at their best levels since the last share capital increases.
The list of strong “papers” in Athens includes the share of Helleniq Energy, as expectations for the economic performance of the second half have revived the interest of investors. Therefore, it has recorded gains +8.3% since the beginning of the month.
Finally, special mention should be made to another group of five listed companies, which observes the total performance of August to range from +6% to +8.1%. These are Viohalco, Athens International Airport, Aktor Group, Jumbo and Cenergy, which are trading at multi-year or historical highs.
Blue chips with the biggest gains in August
• Metlen +19.4%
• Aegean +13.4%
• Cyprus +12.1%
• Helleniq Energy +8.3%
• Aktor +8.1%
• Alpha +8.0%
• AIA +7.2%
• Jumbo +6.8%
• Piraeus Bank +6.6%
• Viohalco +6.5%
• NBG +6.3%
• Eurobank +6.3%
• Cenergy +6.0%
