With significant losses of 1.83%, the stock market closed the week ending, completing four declining weeks, during which the main stock market index recorded total losses of 5.66%.

Internationally the mood is not helped as it continues to be jittery amid a host of uncertainties that have emerged recently, from the path of China and Fitch’s warnings of a now downgrade of US banks, to renewed concerns about the price of energy and of course the “vise” of high interest rates.

The negative reports of investment houses on the course of shares, especially in Europe, are increasing. Bank of America remains negative on European shares and estimates that the change in global growth dynamics has already put an end to the market rally, and everything points to European shares heading for a 20% plunge in the next period.

Despite the market’s decline, the positive reports of foreign companies on the Greek stock market continue.

Morgan Stanley points out that Greece is the top position in its emerging markets portfolio and despite its high yield since early 2023 it is still cheap as it trades at just 7.5 times earnings and with a dividend yield of almost 4%.

HSBC maintains its overweight stance on Greek stocks and argues that Greece stands out as one of the really good reform stories in the field of emerging markets.

He identifies seven stocks that are investment opportunities and to which he gives a “Buy” recommendation: National with a target price of 7.95 euros, Eurobank at 1.95 euros, OPAP at 20 euros, Piraeus at 4 euros, Jumbo at 33 euros, Alpha Bank 2.2 euros and Aegean Airlines 16.3 euros.

The General Price Index closed the week at 1,263.34 points, against 1,286.86 points the previous week, marking a weekly drop of 1.83%, since the beginning of August it is down 5.40%, while since the beginning of 2023 it has recorded gains of 35, 87%.

The FTSE/ASE 25 large-cap index ended the week down 1.46%, while it has gained 36.08% since the beginning of the year. The FTSE MID CAP index closed the week down 1.89% and since the beginning of 2023 is up 47.10%.

The banking index closed the week down 3.02%, while since the beginning of the year it has gained 58.88%.

The total value of transactions in the four sessions this week was 350.501 million euros, while the average daily value of transactions was 87.625 million euros from 80.772 million euros the previous week.

The total market capitalization this week decreased by 1.096 billion euros and stood at 85.444 billion euros, while since the beginning of the year it has increased by 19.582 billion euros.