The Athens Stock Exchange closed above 1200 points, with the overall index receiving significant support from strong investor moves in terms of buying selected blue chips as well as mid-caps, as well as sentiment to “pin” the nine-year highs that have been reached. At the same time, sentiment in international markets remained negative on concerns about the US debt deadlock and data suggesting that the eurozone’s largest economy, Germany, registered a recession in the first quarter of 2023.

In particular, in the statistics of the meeting, the General Index closed with an increase of 0.89% to 1202.43 points, and the turnover amounted to 116.2 million euros. The Large Cap Index closed +0.41% at 2926.33, up 2.72% at 1756.82, the Mid Cap Index closed while the Banking Index added 1.36% to 971.6.

Among the blue chips, Viohalco and Aegean stood out with growth of 8.71% and 6.14% respectively, followed by Lamda Development and ELVALHalcor with growth of over 4%, and GEK TERNA and Ellactor with growth of over 3%. At the same time, profits exceeded 2% at the National Bank, Piraeus Bank, EYDAP and Autohellas. On the other hand, losses of more than 4.58% were recorded at Coca-Cola due to a dividend cut, while Jumbo’s decline was 1.52%.

Strong buying moves in some blue chip and mid-caps.

As international investors await the outcome of the US debt ceiling talks, the Greek market is invited to take advantage of the upside momentum driven by political developments in our country, said Petros Steriotis, managing director of CIF. .

“With the overall index at a nine-year high, we remain true to the current uptrend, but note that it now requires even more careful monitoring in order to better manage accounting profits and avoid locking in investors,” he said. adds. As for the index of large capitalization, it flirts with the critical psychological level of 3000 points.

From now on, Mr. Steriotis concludes, the credibility of buying sentiment in terms of trading volume will be monitored and the rally will “dissipate” into more and more titles, both those that are left behind and others that are less successful. -well-known, the fundamentals of which justify higher capitalizations.

However, the mood of foreign houses is still optimistic about Greece and the rate of the Athens Stock Exchange. In a new note, Morgan Stanley said it remains positive for the Greek economy, reiterating that the Greek market is its preferred emerging market in Europe, while stressing that the country’s rise to investment grade in the coming months maintains the current level of upward momentum. As he explains, the domestic stock market shows a rush about eight months before the upgrade of the country’s rating to investment grade.