Despite the climate of unrest brought on by international developments, such as election results in France and England, uncertainty regarding the stability of Germany’s governing coalition, statements on anti-inflation measures by the U.S. Federal Reserve, and the attempted assassination of presidential candidate Donald Trump, the Athens Stock Exchange is still on an upwards trajectory, with potential to move above 1,450 points, as is also highlighted by National Bank shares.
More specifically, the General Index is up 0.43% at 1,453.16 points, with a €35 million turnover and a volume of 6.7 million shares. The FTSE 25 is also up 0.44%, reaching 3.539.13 points, while the banking index has risen by 0.97% to 1,295.50 points.
Combined with the expected “summer lull” that always reduces visibility and complicates the technical confirmation of trend movements, fiscal risk is always a concerning possibility, directly impacting the willingness to track investment initiatives in stocks and bonds. However, the Athens Stock Exchange seems to defy current political polarization, aiming to revisit the over-decade high of May, with a view to reaching a 1,462-1,472 point range, a key target for buyers, as the 1,400-point level already constitutes an important dataflow and psychological threshold.
Continuing the structural rally on the Athens Stock Exchange largely hinges on the valuation of bank shares, with steady improvement in their balance sheets driving dividend distributions, rating agency updates, as well as increased interest from institutional investors.
