The Athens Stock Exchange moved at a corrective pace following the European stock markets, but this did not prevent the General Index from registering its eighth week of continuous growth, a record that could not be reached for more than a decade (since 2012). The retreat, which was limited compared to the retreat in Europe, is considered quite reasonable, after a strong positive streak that pushed A.A. to an 8.5-year high as this gives the market and investment portfolios a chance to regroup.

The uptrend hasn’t changed in any way because A.A. to lose 1000 points, which is currently not possible immediately, as the volumes are supported, and the rotation of daily protagonists helps to quickly absorb a significant short-term gain, according to domestic analysts.

In the statistics of the Friday session, the General Index closed down by 0.63% to 1068.12 points, and the turnover amounted to 142.68 million euros. The Large Cap Index closed down 0.32% at 2609.64, the Mid Cap Index closed down 0.66% at 1600.28 and the Banking Index fell 0.43% at 839.23.

The decline, which was limited compared to Europe, is considered reasonable.

Of all the blue chips, only OPAP (+4.55%), Motor Oil (+3.18%), PPA (+1.12%) and Piraeus Bank (+0.48%) closed with growth. GEK TERNA recorded the biggest losses (-5.53%), followed by Biohalco, TERNA Energy, Quest and Sarantis with over 3% losses.

Over the week, the general index strengthened by 3.36%, and the banking index – by 5.71%.

“Locking” some liquidity from fast portfolios could be considered a move within the program as the Common Index achieved a 15.6% gain in the first 28 meetings of 2023, comments Manos Hatzidakis of Beta Securities. He notes that the good news for the market stems not only from the rise in valuations, but also from a significant increase in trading activity, which is firmly entrenched above 100 million euros.