Thanks to a mini-rally just before the closing bell and strong support from banking stocks, the Athens Stock Exchange’s overall index returned above 850, absorbing the pressure and reversing the negative sentiment that prevailed until the middle of the meeting. The resignation of Liz Truss from the post of Prime Minister of Great Britain caused a positive “turn” in European markets, while the improvement in the investment climate naturally affected A.A.

The bullish reaction likely goes beyond that, according to Depolas Investment Services, as many stocks appear attractive in terms of historical multiples. In anticipation of third-quarter domestic corporate results starting gradually from next week, the stock exchange believes that the overall index will not deviate significantly from current price levels, always with an eye on overseas markets.

In the statistics of yesterday’s meeting, the General Index closed with an increase of 0.78% to 854.80 points, and the turnover amounted to 46.42 million euros. The large cap index closed up 0.83% to 2069.56 points, while the mid cap index closed up +1.52% to 1309.36 points.

In non-banking blue chips, HELLENiQ ENERGY, GEK TERNA, PPC, Mytilineos, OPAP, OTE and TERNA Energy recorded gains of over 1%. On the other hand, losses of more than 1% were recorded by Quest, EYDAP and Motor Oil.

The volume of transactions amounted to 46.42 million euros.

The banking index recorded an increase of 1.33% to 583.39 points, while Piraeus recorded an increase of 2.26%, Alpha Bank closed at +2.22%, Eurobank strengthened by 1.07% and the National Bank by 0.37 %.

The Greek market continues to fluctuate with low trading volumes in an attempt to approach the resistance level of 855.50 points on the General Index. A change in the medium-term negative trend, according to Fast Finance economist Lucas Papaioannou, will depend on how convincingly the above levels are broken, which will be facilitated by both the positive results of the third quarter and the behavior of the main financial markets abroad. But this will largely depend on market expectations for both energy prices and the evolution of inflationary pressures, with the key questions being where and when they will peak.

Central bank restrictive policies have drained $3.1 trillion of liquidity since the start of the year, causing dizziness and spillover effects in markets long reliant on abundant, cheap money, the economist said. In addition, geopolitical instability increases the number of “black swans” that can suddenly appear in the volatile and fragile global financial system.

Thus, the key question for an investor is how and when central banks will be able to strike a balance between rising interest rates and a recession in an unstable environment. Since everyone understands the complexity of a venture, volatility dominates all markets.