Athens Stock Exchange: 3.3% Dip in Week, But Some Opportunities Remain
Market Overview:
The Athens Stock Exchange closed down 3.3% in the week, ending at 1,383.31 points. This follows a significant sell-off on Monday when the market lost 6.27%.
Key Events:
High uncertainty and low predictability: The market is grappling with high inflation, rising interest rates, and geopolitical tensions, leading to market volatility.
Marginal gains in banks: Despite a strong morning, most major Greek banks ended the day slightly in the green.
Positive performance in some sectors: Sectors like healthcare and technology saw notable gains, while energy and construction stocks declined.
Notable Moves:
PPC: Up 1.5% to 11.1 euros.
Sarantis: Up 4.25% to 413.251 euros.
Intercontinental: Up 7.76% to 942 euros.
Market Sentiment:
Despite the weekly decline, some analysts believe there are opportunities in the market, particularly in large-cap stocks which are trading at “cheap” levels. However, caution remains high due to market volatility and geopolitical concerns.
International Market Update:
US: US unemployment claims unexpectedly declined, boosting market sentiment.
Asia: Major Asian markets ended the day in positive territory.
* Europe: European markets were mostly flat, with the Stoxx 600 approaching 500 points.
Conclusion:
The Athens Stock Exchange experienced a volatile week, but some analysts believe there are still opportunities for investors. Continued high inflation, interest rates, and geopolitical tensions will likely remain market drivers in the coming weeks.span> Share via Email