It closed the week with a slight increase of 0.05% Stock Exchange of Athens which absorbed any pressures that arose to secure short terms profits after a sharp rise last week, while the average daily trading activity recorded a significant decrease.
The Athens Stock Exchange did not fully follow the pace of stock markets around the world that recovered from the collapse recorded on Monday, August 5, as data on unemployment and retail sales in the US eased concerns about the risk of recession in the US economy, while Other data show a further easing of inflationary pressures, which paves the way for the Fed to cut interest rates in September.
Noting that the markets currently give a 69.5% chance that the Fed will cut its interest rates by 25 basis points in September, while given the decline in inflation and the weakening of the labor market, they did not rule out more. reduction , of 50 basis points, a scenario with a 30.5% chance.
In the Greek market, positive reports for bank stocks continued. Optima Bank confirmed its buy signal for the shares of all four system banks, saying that there was an upward revision of target prices after the strong figures presented by six months and the upgrade of the guidance made by their management. The shares of Greek banks are sold at a 21% discount compared to EU banks, which is unreasonable based on the estimated average profitability index (RoaTBV) of 14.9% in 2024. The prices – target that Optima Bank has for the banks, which maintains the “buy” signal is as follows: Alpha Bank at 2.10 euros, Eurobank at 2.41 euros, National at 10.84 euros and Piraeus at 5.50 euros.
The General Price Index closed the week at 1,432.60 points, compared to 1,431.88 points last week, marking a marginal weekly increase of 0.05%, since the beginning of August it fell by 3.08%, while since the beginning of the year it recorded 10.78% gain.
The FTSE/ASE 25 large-cap index closed the week slightly down 0.01% and since the start of 2024 has risen 11.83%. The FTSE MID mid-cap index ended the week down 0.76%, while it rose 0.66% year-to-date.
The bank index closed the week down 0.37%, while since the beginning of 2024 it gained 20.74%.
The total value of trades in this week’s sessions was 339.810 million euros, while the average daily value of trades fell by 24% compared to last week and stood at 67.962 million euros against 89.715 million euros.
The total capitalization of the market this week increased by 317 million euros and reached 99,386 billion euros, while since the beginning of the year it increased to 11,498 billion euros.