The market closed last week on the Athens Stock Exchange with a huge loss of 11.38%.
The Russian invasion of Ukraine shocks the stock and oil markets.
Bank stocks were the focus of the sell-offs, with the banking index on the Athens Stock Exchange posting weekly losses of 21.91%.
Major international stock markets are also falling as investors watch oil prices hit their highest level since 2013, amid Europe’s worst geopolitical crisis in decades since Russia invaded Ukraine.
The “shock of war” has clouded the outlook for the global economy, but also for markets, at a time when inflation reigned and central banks planned to gradually withdraw stimulus measures and raise interest rates.
At the same time that the Greek stock market is receiving… fires of war, Goldam Sachs and UBS are giving a vote of confidence in the Greek economy and the Greek stock market.
The great US bank Goldman estimates that in the next 12 months the General Price Index will rise to 1,175 points (43% more than Friday’s close) and points out that the Greek market offers a better risk/reward profile than the S&P 500.
UBS appears “bullish” on the Greek economy and Greek banks and raises its growth estimates for Greece, despite the impact of the war in Ukraine. It raises the GDP forecasts for 2022 to 5.5% or 1.5 basis points above the mid-market estimates and 60 basis points above the Commission’s forecast.
The General Price Index closed the week at 821.74 points, compared to 927.25 points last week, 11.38% less, while since the beginning of the year it has lost 8.01%.
The FTSE/ASE 25 large-cap index closed the week down 12.71% and since the beginning of 2022 it is down 8.28%, while the FTSE MID CAP index closed down 7.40 % since the beginning of 2022. year is down 2.84%.
The banking index closed the week with a fall of 21.91%, while since the beginning of the year it registered losses of 5.17%.
The total value of transactions at meetings this week amounted to €759.346 million, while the average value of transactions rose to €151.863 million, from €98.08 million last week.
The total market capitalization this week decreased by €7,789 million and amounted to €60,218 million, while since the beginning of the new year it has decreased by €5,874 million.
source: iefi merida
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