With a strong fall of 3.53%, the stock market closed the week ending, capping annual gains at 8.80%.

The pressure manifested in the European markets, centered on the French market, was transferred to the domestic stock market which lost important supports, falling towards the levels of 1,400 units.

At the same time the picture on Wall Street was better with the S&P 500 and Nasdaq indexes hitting all-time highs, despite the fact that Fed chief Jerome Powell put the brakes on expectations for the pace of interest rate cuts. The Fed now forecasts just one rate cut in 2024 instead of three.

The General Price Index closed the week at 1,406, 91 points, against 1,458.37 points the previous week, marking a weekly drop of 3.53%, while since the beginning of the year it has recorded gains of 8.80%.

Technically, breaking the 1,414 support opens the way for the next support at 1,395, while the market’s pullback could extend up to the 1,350 levels.

The FTSE/ASE 25 large-cap index ended the week down 3.65% and since the start of 2024 is up 9.24%. The FTSE MID mid-cap index closed down 3.19% for the week, but is up 0.64% since the start of the year.

The banking index closed the week with losses of 4.26%, while since the beginning of 2024 it has recorded gains of 16.88%.

The total value of transactions in this week’s sessions was 501.200 million euros, while the average daily value of transactions was 100.240 million euros, compared to 105.248 million euros last week.

The total market capitalization this week decreased by 3.117 billion euros and stood at 97.944 billion euros, while since the beginning of the year it has increased by 10.056 billion euros.