Due to several intra-session fluctuations and with a focus on the banking sector, including the Alpha Bank Investor Day, the Athens Stock Exchange moved and the overall index was finally able to close in plus and above 1250 points for the first time since the opening. Summer 2014 Thus, the Greek market increased its YTD growth even further to 34.5%, while Greek banks recorded an impressive growth of more than 59%.

According to domestic analysts, A.A. continuation is expected, but the upward momentum may slow down ahead of the elections. Depolas Investment Services estimates a possible price range for the General Index this week at around 1250-1190 units, while stressing that Fitch’s assessment on Friday night is expected to generate market interest.

In particular, in the statistics of the meeting, the General Index strengthened by 0.47% to 1250.61 points (from falling by 0.09% to the low of the day), and the turnover reached 180.5 million euros. The Large Cap Index recorded an increase of 0.57% to 3044.71 points, while the Mid Cap Index closed up 1.17% to 1850.26 points.

Since the beginning of the year, the profitability of the Greek market reaches 34.5%, while the profitability of banks exceeds 59%.

Among non-banking blue chips, Ellaktor stands out with a gain of 4.82%, followed by EYDAP and Sarantis with a gain of more than 2% and ELVALHalcor with a gain of more than 1%. On the other hand, Quest recorded a 2.67% drop, while Autohellas, Motor Oil and Jumbo recorded losses of over 1%.

The banking index recorded a new jump of 2.01% to 1,020.13 points, while Alfa-Bank took the lead and closed at +3.96%, Eurobank followed it by +1.67%, and with an increase of 1, 19% and 0.97% closed the National Bank and Piraeus. , respectively.

Reports from international houses on the favorable outlook for the Greek economy and positive assessments for the banking sector continue, said Dimitris Tzanas, management consultant at Kyklos AHEPEY. For example, based on last week’s reports, BofA estimates that the investment rating will be assigned by the S&P on October 20, while Morgan Stanley moves it to the first half of 2024 and “sees” +2.5% in this year’s GDP. Jefferies is openly showing its preference for Ethniki’s stake in the process of raising its target price (to €7.30), while Goldman Sachs prefers Alpha Bank (target price to €1.95), giving the banking industry +25% upside potential.

In addition, the analyst adds, the €1 billion net income of the 30 companies that have already announced their first-quarter figures creates reasonable expectations for strong numbers to continue throughout the year, as the June 25 elections resulted in a parliamentary majority from the ruling party, and polls so far confirm This.