With a strong rise of 3.51%, the stock market closed the week ending, “erasing” the losses of the sell off of Monday, August 5 (-6.27%).

The market recovered after two bearish weeks during which the main stock index recorded total losses of 5.85%.

International markets staged a strong rebound as US jobless and retail sales data allayed concerns about the risk of a recession in the US economy, while other data showed a further easing of inflationary pressures, paving the way for the Fed to cut interest rates. interest rates in September.

Banking stocks were at the center of investor interest, with UBS and Deutsche Bank issuing positive reports and giving higher target prices for banking stocks.

Greek banks attractive after strong second quarter, according to UBS.

Greek banks look attractive at current levels with a period of strong second-quarter results and having upgraded earnings for most of the stocks covered and see significant upside, as well as potential for distribution at higher levels, according to UBS.

The recommendations are “buy” and the target prices are 11.20 euros for Ethniki, 5.70 euros for Piraeus, 2.32 euros for Alpha Bank and 2.74 euros for Eurobank .

Greek banks look attractive after the recent sell-off that hit Greek bank shares more than some other banks Deutsche Bank points out and gives new higher prices (Eurobank 2.85 euros, National 9.85 euros, Piraeus 5 .00 euros and Alpha Bank 2.30 euros).

The General Price Index closed the week at 1,431.88 points, against 1,383.31 points the previous week, marking a weekly increase of 3.51%, since the beginning of August it has fallen to a rate of 3.13%, while since the beginning of the year it has recorded gains of 10.73% .

The index of high capitalization FTSE/ASE 25 closed the week with a rise of 3.78% and since the beginning of 2024 it has strengthened to a percentage of 11.84%.

The mid-cap index FTSE MID closed with a weekly gain of 3.77%, while since the beginning of the year it has gained 1.43%.

The banking index closed the week with a strong gain of 6.12%, while since the beginning of 2024 it has gained 21.19%.

The total value of transactions in the four sessions this week was 358.860 million euros, while the average daily value of transactions was 89.715 million euros.

The total market capitalization this week increased by 2.941 billion euros and reached 99.069 billion euros, while since the beginning of the year it has increased by 11.18 billion euros.