Self-sufficiency brings a crowd to the boardroom, Cenergy to the fore and Iliopoulos back

The outcome of the election was what the market was cutting and wanting. What was also seen from the first election result. The sweeping victory of the New Democracy, the absolute majority, is the best-case scenario for the Greek stock market and for those who want a government that brings in investments, creates jobs, stands by businesses and does everything it can to develop the economy. Of course, to some extent, the outcome of the election was mirrored in the stock market with valuations soaring in the preceding days and weeks.

the massive capital inflow I’m gone General index above the 1,270 units And at new 9-year highs, valuations have improved and new money has stepped in, as reflected in day trading. Now, we’re aligned with developed markets, since investment grade is no longer in jeopardy and it’s just a matter of time. The stock exchange is now only looking ahead and maintaining its advantage, because apart from the above, the fundamentals are, as many analysts say, supportive and in fact non-financial sector companies trade at a significant discount compared to foreign companies. Now it remains to be seen if he will continue at the same pace or take a break to absorb the new levels and do more after the next jump.

h energy Not only has he been in the spotlight over the past few months due to the stock’s performance, but also because of the projects he’s announced and the ever-increasing backlog. In fact, one job is more impressive than the other. The market sensed the announcement made approximately last weekend, in which the listed company announced that it had signed a contract with Ørsted, for the supply of interlayer cables for the Hornsea 3 offshore wind farm. According to the contract, Hellenic Cables will be responsible for the design, manufacture, supply, termination and testing of the cables between the arrays that will connect the wind turbines and marine transfer station.

The supply includes about 262km of 66kV inter-array cable with XLPE insulation, which is about 50% of the total wind farm requirements. Production will begin in the fourth quarter of 2025 at the state-of-the-art submarine cable factory Greek cables in Corinth. Ørsted is the most sustainable energy company in the world, but it is also known to the domestic investment public because of the intention to build a joint venture plant in the USA with Cenergy. The new job he announced clearly sets the bar even higher and confirms that Cenergy is a leader in its industry.

Of course, management has said this many times on the conference call, pointing out that given the experience it has gained, the company chooses which jobs to take on and chooses those with better profit margins. That is, the valuation of almost 1.2 billion euros on the board and the recent entry into high capitalization was no coincidence.

Flashbacks to the recent past are reawakened last week, when ANEK announces that businessman Marios Iliopoulos has returned. Many considered that since the last public offer of Piraeus Bank to MIG shareholders, the Iliopoulos side sold its shares, making a huge profit, the merger issue is over. Attica Group with ANEK. But Mr. Eliopoulos He returned asking for the purchase of ANEK with a payment of 82 million euros to obtain all the loan obligations of the company with the provision of guarantees and the purchase of all the shares of the major shareholders for 0.2220 euros per share.

The memories that awakened were, of course, related to the performance of her inventory I Some investors bet on repeating the scenario. That is, for Mr. Iliopoulos to buy shares aggressively, from ank, to pressure developments. It should be noted that ANEK will merge with Attica Group once the Competition Commission’s decision is issued. Inventory developments will be of interest and of course we will be following them closely.

The calendar says June 26th. Eight years ago, less than a day ago, the president of SYRIZA and, at that time, the country’s prime minister Alexis Tsipras Announce that a referendum will be held on the acceptance or non-acceptance of the draft financing agreement for Greece by institutions with specific financial commitments. The result of yesterday’s elections ends a political period of self-deception and opens a new phase: a period of restoring the country’s lost credibility, and a return to the club of worthy countries. Histories sometimes contain symbolism and coincidences that are not very innocent in their depth. Today, yes, a really beautiful day has dawned for the Greek economy.

From May 19 to last Thursday, inflows to local equity mutual funds totaled 94.1 million euros. He was the big winner in this period Alpha Group Management which attracted 44.6 million euros in this particular category. On the contrary, only NN mutual funds had outflows of €149,000. The last week before the election saw inflows of around €9m for all local equity mutual funds.

The six months ended were positive for stocks and very negative for bonds. sta investment funds Which has a mixed portfolio composition, in recent months there has been a systematic exceeding of investment limits in favor of stocks. As the end of the week approaches, there may be an oversupply of stocks in order to regain investment weights. Next Friday you need attention.

After 17 years of being in Sarantis Ms. Eleni Papa is leaving the position of Director of Investor Relations. But she will not leave the market. The column’s antennas detected that its movement would not be outside the walls of the stock exchange. He is even expected to take a similar position in a large listed capital. Our best wishes for a more successful career in her new position.

the public view Shares to dispose of 19.94% of the outstanding shares from hydroelectric It started in Romania on Friday and will end on July 4th. Depending on the price range, the valuation is between 8.52 and 10.16 billion euros. Already the offer book has been filled out once. 89.7 million shares will be offered and the shares will start trading on the Bucharest Stock Exchange on July 12. The listing of Hydroelectrica shares is the largest so far this year in Europe by volume and capital increase.

h Deutsche Bank It plans to reduce the number of retail banking employees by up to 10% in the coming years in order to reduce operating costs. The retail banking arm of Germany’s largest bank has 17,000 employees. The plan will be discussed with unions and workers’ representatives, according to reports.

Deutsche Bank has in the past announced plans to cut staff that it never implemented. In 2019, it announced it would cut 18,000 jobs as part of a major restructuring, but in the end the headcount cuts were much smaller as the workload increased.

Deutsche Bank, which also operates under the Postbank brand in Germany, has closed more than 300 branches in the past five years with its network today numbering around 1,000 branches. Credit ratings agency S&P last month revised Deutsche Bank’s outlook to positive, noting that the retail banking sector has plenty of room to reduce operating costs.

“Chemicals Forever” will eventually cost large American industry MMM (MMMM NYSE) At least $10.3 billion, and possibly much more. According to a statement issued from Thursday evening to Friday, the company has reached a large settlement with a large number of US cities. These cities appealed to the US courts and demanded significant damages from MMM due to the massive damage caused to the water supply networks from their products.

Basically, the water supply has been contaminated with a host of dangerous chemicals found in various MMM products. These chemicals have a very special advantage in that they do not dissolve over time. That is why they are called “forever chemicals” in English, that is, chemicals that remain forever.

The settlement was out of court, as the firm and the legal counsel of 4,000 local governments from various US cities and states preferred to find a quick solution acceptable to both sides rather than engage in legal battles that could drag on for years. This sum, which could eventually amount to $12.5 billion, will be paid out by MMM in phases over the next decade to all these local authorities and will be used by them to fully identify problems and restore water supply networks.

At the same time, the company has pledged that by the end of 2025, it will permanently stop producing all products containing these dangerous chemicals, commonly known by the acronym. PFAS (Perfluoroalkyl and Polyfluoroalkyl substances). These chemicals are blamed for causing several major health problems and have found their way into water supply systems in a variety of ways.

A lot of damage has been done due to the special foams that the fire department uses in their exercises, thus polluting the water supply network because it contains large quantities. PFAS. The fact that these chemicals are also present in food packaging has played an important role.

The infection is very widespread, as The New York Times reported in its related article. Almost all Americans, even newborns, have traces of PFAS in their blood, and about 200 million citizens are exposed to it through their water supplies. mmm It is not the only company that is being asked to compensate American society for the damage caused by PFAS, but the amount it is being asked to pay is the largest that has been agreed to date.

Although many analysts estimate that the final cost of MMM could be as high as $30 billion in the coming years, the initial reaction from investors was positive and the stock soared, perhaps because this deal seemed to clear things up and significantly reduce the relative percentage. suspicion.

On the other hand, the representatives of the local authorities who will collect the money fear that it will not be enough to cover all the costs that will have to be incurred for the complete cleaning of the water supply networks and the possible replacement of the water networks. part of them. Most likely, part of the “bill” will be paid for by the taxpayer in some way.

Evacuation responsibilaty

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