Volatility is the main characteristic of the Athens Stock Exchange, as the recent climb of the General Index to 1,500 points, combined with the “cloudy” prospects surrounding the timetable for the reduction of international interest rates, have supported the mood of consolidation to the current levels.
Changes in the main stock market index did not exceed +/- 1% over the past week. Certainly, the discount in the placement of Mytilineos also affected the market.
However, the 1,500 points – for the first time since April 2011 – led some investors to ‘lock in’ some of the large gains of the last period.
“With the 1,500 points ‘inspiring’ but also ‘scaring’ the General Index, we estimate that the next few weeks will be particularly critical for the future course of the market. The basic trend continues upward, but the temptation to receive the recent gains still exists,” analyst Petros Steriotis explained in his weekly report.
It is recalled that the Greek market, at the moment, offers an average yield of 14% in 2024 and +22% in 12 months.
