Home Economy The stock market is close to 9-year highs

The stock market is close to 9-year highs

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The stock market is close to 9-year highs

He moved up, with little hesitation Athens Stock Exchange on Friday in anticipation of the bulletin’s verdict, when investors declare themselves “present” but avoid large moves, which is logical, and the market as a whole shows composure.

Inside analysts note that the market’s technical picture remains bullish as the overall index is currently at recent one-year highs and nine-year highs. All medium-term technical indicators are now pointing higher and a break of the yearly high will set the market for an ambitious new upside target, 2014 highs near 1350, according to Beta Securities, with an intermediate stop at 1220-1230.

The general index closed up by 0.19% to 1132.34 points, and the turnover reached 94.9 million euros. The Large Cap Index closed up 0.43% to 2767.02 points, the Mid Cap Index closed up 0.31% to 1647.44 points, and the Banking Index gained 0.46% to 881.51 points.

Of all the blue chips, Mytilineos stood out with a gain of 2.24%, while Alpha Bank, Aegean and OPAP recorded gains of over 1%. HELLENiQ ENERGY closed down 2.15% and Sarantis posted a loss of over 1%.

Over the week, the general index slightly strengthened by 0.85%, while the banking index – by 3.3%.

The first reality check has come, and now the market is waiting for the verdict of the citizens to the government of the country, as Manos Hatsidakis, head of the analytical department of Beta Securities, emphasized. The convergent market estimates that the ruling party has a stable lead with a 4.5% to 6% lead over the second-place party, and the government formation process is leading to a repeat election on July 2. This expectation is reflected in share prices, judging the severity of political risk on a case-by-case basis.

Author: Eleftheria Curtalis

Source: Kathimerini

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