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Stocks: up 1.17% after correction

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Stocks: up 1.17% after correction

A return to growth with a partial recovery from losses on Thursday was noted on the Athens Stock Exchange after a (cautious) recovery recorded by European markets, as investors assess statements from ECB and Fed officials on interest rates in the coming months.

The overall index, albeit with a more subdued turnover, returned above the support level of 973 again, helped by the growth of banking stocks and individual blue chips. In addition, as noted by domestic analysts, corrections similar to Thursday’s are needed on the market in order to be able to attract other funds.

In particular, in the statistics of the meeting, the General Index closed with an increase of 1.17% to 979.06 units, and the turnover amounted to 77.4 million euros. The Large Cap Index closed up 1.2% to 2376.48, up 0.51%, while the Mid Cap Index closed at 1482.93, while the Banking Index posted a 1.15% gain to 725. .04 points.

Return of buyers, with placement in banks and blue chips.

Of all the blue chips, the Elactor rally stood out at 12.47%, followed by Mytilineos at 3.64%, HELLENiQ ENERGY at 3%, Jumbo at 2.66%, Aegean at 2.96% and GEK TERNA at 2. 64%, while Eurobank, Piraeus, PPA, TERNA Energy, Sarantis and Titan gained more than 1%. Only PPC (-1.43%), EYDAP (-0.6%) and ELVALHalcor (-0.23%) closed with a loss.

Over the week, the general index strengthened by 1.1%, while the banking index – by 2.74%.

There will be a correction at some point, but that was not the main demand in the market, comments Manos Hatsidakis of Beta Securities. The next day after the bold profit-taking (Thursday) showed that the buyers still have the advantage.

Units of the General Index may be at eight-year highs, but there are a few stocks trading at multi-year or even all-time highs in their capitalization. This fact is not accidental, emphasizes Mr. Hatsidakis.

Author: Eleftheria Curtalis

Source: Kathimerini

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