The stock market ended the week ending with a mild decline, with volatility characterizing the image of the market, as well as the international markets.

The new crisis has found the stock markets close to their all-time highs and this increases concern and volatility for a deeper correction, as a result of the delay in reducing high interest rates, low expectations for growth, but also the fear created by the successive geopolitics judgments.

There was also high volatility in the Athens Stock Exchange, which, on Tuesday, fell to a 2.5 month low, only to recover in the following sessions.

However, as Beta Sec points out, it has been proven that in the vast majority of cases where markets have come under pressure from geopolitical tensions, the long-term performance of stocks has not been affected. In fact the events ‘faded out’ within a month or two and the markets returned to pre-surge levels.

The positive assessments of the investment houses for the banking sector continue. Goldman Sachs remains “bullish” on Greek banks, stressing that despite the significant rise they have recorded (56% in the last twelve months), they continue to trade at a discount compared to banks in global emerging markets and European banks.

For Eurobank, it increases the target price to 2.50 euros, from 1.95 euros for National Bank and Piraeus to 10 euros (from 8.90 euros) and 5.30 euros (from 4.70 euros) respectively, and for Alpha Bank gives a target price of 1.95 euros.

Alpha Finance estimates double-digit profitability rates until 2026 for Greek banks and believes that any retreat creates buying opportunities. It is proceeding to upgrade the target prices by approximately 25% (Eurobank 2.45 euros, Piraeus 4.90 euros, National 9.10 euros).

The General Price Index closed the week at 1,392.62 points, against 1,400.61 points the previous week, marking a weekly drop of 0.57%. Since the beginning of 2024, the main stock index has recorded gains of 7.69%.

The FTSE/ASE 25 large-cap index closed the week down 0.50% and since the start of 2024 is up 8.20%. The FTSE MID mid-cap index closed down 0.09% for the week, after a small year-to-date gain of 0.38%.

The banking index closed the week down 1.88%, while since the beginning of 2024 it has gained 11.12%.

The total value of transactions in this week’s sessions was €678.136 million, while the average daily value of transactions was €135.627 million, up from €119.430 million last week.

The total market capitalization this week decreased by 297 million euros and stood at 96.259 billion euros, while since the beginning of the year it has increased by 8.371 billion euros.