With a fall of 0.69%, the stock market closed the week ending, with the market “digesting” new highs since 2014.

The General Index holds nine-year highs, while with a positive election result the next target is 1,380 points according to analysts.

Since the beginning of the year the main stock market index has recorded high gains of 36.45%, the banking index has outperformed with a rise of 53.39%, while the total market capitalization has increased by almost 20 billion euros.

The market appears to be particularly strong as the main stock market index from 1,085 units at the end of April is now at 1,270 units, recording gains of 17%, without any strong corrective retreat.

Major international markets were weighed down as the Fed and ECB plan fresh rate hikes, reigniting recession fears, and major central banks continue to tighten policy to tackle inflation.

Banking shares took a “breather” after the rally since the beginning of 2023, but this week there were no shortage of new positive reports on their course in the next period. Deutsche Bank raises the target price for Ethniki to 6.70 euros from 6.15 euros, for Eurobank the target rises to 1.90 euros from 1.70 euros and for Alpha Bank to 1.90 euros from 1.70 euros.

HSBC believes that Greek Banks still offer room for growth, despite this year’s 60% rise in the AX board, and for this reason it continues to recommend buys and increases price targets. The new target prices are for Alpha Bank at 2.20 euros per share, from 1.45 euros before, Eurobank at 1.95 euros, from 1.60 euros, National Bank at 7.95 euros, from 6, 95 euros and Piraeus Bank at 4 euros per share, from 3.35 euros before.

NBG Securities also remains positive for Greek banks. Achieving investment grade will be another positive catalyst for Greek banks, potentially leading to a reduction in their funding costs. The same applies to the disinvestment of the HFSF, demonstrating the full recovery of the banks since the years of the Greek financial crisis, as well as the increase in their free circulation. Finally, the dividend distribution will also act as a sign of their return to normalcy after the crisis years, thus attracting even greater investor focus. The target price for Alpha Bank is at 1.95 euros, for Eurobank at 1.7 euros and for Piraeus at 3.9 euros.

The General Price Index closed the week at 1,268.71 points, against 1,277.56 points the previous week, marking a weekly drop of 0.69%, since the beginning of June it has gained 4.11%, while since the beginning of 2023 it has recorded gains of 36, 45%.

The FTSE/ASE 25 large-cap index closed the week down 1.45%, while since the beginning of the year it has risen 36.02%. The FTSE MID CAP index closed the week up 1.31% and since the start of 2023 is up 38.60%.

The banking index closed the week down 3.62%, while since the beginning of the year it has gained 53.39%.

The total value of transactions in this week’s sessions was 536.926 million euros, while the average daily value of transactions was 107.395 million euros from 121.879 million euros the previous week.

The total market capitalization this week decreased by 1.126 billion euros and stood at 85.406 billion. euros, while since the beginning of the year it has increased by 19.54 billion euros.