The Athens Stock Exchange moved with increased turnover and high profits, boosted by a banking rally, investor placements in select blue chips and continued positive reports from analysts, with the General Index closing above 1240 and hitting a fresh nine. – annual maximums. The focus of the market this week is on Fitch’s valuation scheduled for Friday evening, with the chances of an upgrade to positive for the country seen as high.

The overall index increased by 2.21% to 1,244.75 points, while turnover reached 143.46 million euros. The Large Cap Index recorded an increase of 2.5% to 3027.33 points, while the Mid Cap Index closed up 0.82% to 1828.91 points.

Among non-banking blue chips, Jumbo stands out with a 6.19% gain, followed by Quest with a 5.12% gain, while GEK TERNA, Ellactor and Autohellas closed up over 4%, and ELVALHalcor with a more than 3% growth. . On the other hand, only PPA (-0.5%) and TERNA Energy (-0.1%) recorded declines.

June has several dividend cuts that will certainly steal a percentage of the overall index.

Banking index jumped 3.84% to 1000.06.27 points, with Alfa Bank closing +4.49%, National Bank +4.14%, Piraeus +3.67% and Eurobank +3.13 %.

Banks received a strong new signal of support from Goldman Sachs, which raised its share price target after its strong first-quarter results saw margin gains of 16-42%, while saying it remains constructive on their outlook.

As for the big picture of AX, as commented by Ilias Zacharakis of Fast Finance, there have been a lot of dividend cuts this month, which will certainly steal a percentage of the overall index. A look at the next Fed meeting on June 14 and the ECB 15. The Greek stock market, he emphasizes, is a separate category, since everyone is betting on investment grade, so it is unlikely to reduce positions in favor of restructuring. their portfolio. Tourism, as everything shows, is reaching a new historical maximum, and the decision to introduce El. Venizelos” on the stock exchange shows that investor confidence is growing day by day.

According to Mr. Zacharakis, if one takes a look at the 2023 returns in the Greek market, both in the stock exchange and in the bond market, one will find that we have 10 years to see them. “Let’s be sure that the exit after such a long decline is unlikely to be accompanied by a long period of growth. 2023 was also the first year we have been able to see higher levels since then and we are now aiming for the 2013 highs in the first phase. All this and investment grade as a crown is enough for optimism in the Greek market,” the analyst concludes.