With modest gains, despite the nervousness that prevailed since the open, the Athens Stock Exchange closed in the first session of the month, once again overcoming intra-session pressure, abandoning the correction, despite the rally that highlighted the Greek market. on the international level. While there was no shortage of liquidations, selected large-cap stocks managed to support the overall index while turnover remained strong.

As Deutsche Bank also noted, among all assets at the international level – stock indices, bonds, currencies, commodities – the Athens Stock Exchange recorded the largest increase in February (+10.4%), while it is the absolute leader in terms of returns on international level and since the beginning of the year. 2023 (+21.5%). A.A. together with the stock market indices of Italy (+16.4%) and Spain (+14.7%), these are the three markets that recorded double-digit growth rates in the first two months of the year, he noted.

However, according to domestic analysts, the first correction to 1100 units is considered normal, based on the strong growth achieved in a fairly short period of time, without changing the positive dynamics of the market. The general index closed up by 0.34% to 1133.11 points, and the turnover reached 130 million euros. The Large Cap Index closed up 0.68% to 2769.38, the Mid Cap Index closed up 0.09% to 1621.65, while the Banking Index added 0.34% to 933.07.

In the first two months of the year, Athens recorded the highest return (21.5%) among European markets.

Of the blue chips, 12 closed higher, with OPAP standing out at +3.41%, followed by Motor Oil at +2.47%, OTE at +2.41% and OTE at +2. 19%, National Bank. On the other hand, Ellactor recorded a 3.57% drop while TITAN, Mytilineos and Piraeus Bank followed with losses of over 1%.

The stock exchange is trying to pick up the lost ground of recent years regarding the economy and at the same time is discounting the best year 2023, as noted by Fast Finance CEO Ilias Zacharakis.

He adds that Greece, with its clean banking sector, shows that it has begun a new upward cycle that still has a long way to go. What we’re seeing is the beginning, and from a stock market perspective, it’s more like 1998 when there was a big influx of foreign capital due to the devaluation of the drachma, which was the first step towards joining the eurozone.

The expectation of investment grade, especially before the election, shows that the market appreciates a stable government that will follow the same policies after the election. In addition, in 2023, everything shows that Greece will have significantly higher growth than the Eurozone average. According to the analyst, it is a given that there will be opportunities and adjustments, or even will be in some cases.