By Haris Fludopoulos
In recent months, the Athens Stock Exchange has entered a difficult downward cycle and is going through strong turbulences. In order for A.A. to get out of this condition, the General Index should immediately rise above 800-810 units, but also be driven with increased turnover towards the zone of 850 units.
However, this downward trend was given little breath by the upgrade of the forecasts for the economy by HSBC according to which, in Greece, no slowdown in growth is expected, thanks to the boost of tourism, even estimating that the GDP increase will reach 6, 5% this year, compared to the initial forecast of 4%. As the British bank emphasizes, rising energy costs and possible gas shortages could weigh on growth.
In this environment the question is whether the market has bottomed out. As several analysts report, the uncertainty is so great that any assessment risks being immediately refuted. That is why they recommend moves that have a longer horizon, so that many portfolios can secure positions that will pay off significantly in the long run.
On the opposite side of the stock market, the domestic business climate shows more encouraging trends. New strategic partnerships are made, significant income is distributed through dividends, at the same time that DIMAND makes its debut on the Greek stock market, as the first IPO since 2014 and ELTECH Anemos. At the same time, Lamda Development is proceeding with the issuance of a “green” seven-year bond, aiming to raise up to 230 million euros.
It is recalled that the corporate bond market of the Athens Stock Exchange in the last five years has recorded 23 issues, raising funds of over 4 billion euros, with a large participation of investors, institutions and also private individuals who have actually absorbed 60% of the demand. 2021 was a record year, with seven issues that raised 1.4 billion euros, while already in the first two months of 2022 two issues were made.
In this environment, the shipping industry showed significant mobility.
The road was opened in May 2021 by Costamare Participations PLC. It was followed by Capital Product Partners in October 2021, achieving a leverage of 5.3 times, while the third shipping bond was issued in February 2022 by the company Safe Bulkers, which, despite the unfavorable climate of the period, achieved a leverage of 1.65 times.
It is characteristic that shipping bonds registered significant investment interest, from institutional as well as private investors, while the prospects of this market are significant.
Reports suggest that a new shipping bond is likely in the near future as it looks like a player is getting ready to knock on the door of the AX again.
This new edition is expected at a time when energy security issues are more critical than ever, with Greek shipping playing a catalytic role. After all, the perspective of shipping as a floating chain for the transport of LNG proves to be the only way for the energy autonomy of the country and of Europe as a whole.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
