Stock prices came under heavy pressure in the week ending with the market recording weekly losses of 3.69%, with sellers prevailing in all five sessions of the week.

Fatigue in Athens Stock Exchange it is evident because of the constant allocation of equity percentages. In less than 15 days, nearly 1 billion euros and 750 million euros in bond issues were raised from the stock market. This year’s share allocations have absorbed a total of 4.2 billion funds by 2024.

Banking stocks were at the center of liquidations, with the banking index recording weekly losses of more than 7%.

However, JP Morgan sees an attractive entry point into Greek bank shares, highlighting the strong profitability momentum and continuous positive revisions to earnings per share (EPS) since the beginning of the year, especially compared to European banks. As she underlines, Greek banks are her “favorites” from the Central and Eastern Europe, Middle East and Africa (CEEMEA) region. The sector trades at a discount of 37% compared to Europe and 26% compared to CEEMEA.

At the same time Morgan Stanley and Goldman Sachsalthough they say they are buyers of banking stocks, they lowered their target prices for banking stocks.

Morgan Stanley gives a target price of 2.28 euros for Alpha Bank, 10.25 euros for National Bank, 5.39 euros for Piraeus and 2.63 euros for Eurobank.

Interest income (NII) sensitivity is the key discussion for Greek banks, with each 25 basis point cut in interest rates expected to impact net earnings by -0.8% – 1.7%

And Goldman Sachs cut its target prices for Banking stocks, as a result of changes in their estimates for ECB interest rates. Although he maintains the “buy” recommendations, he made a small reduction in the target prices: for Piraeus to 5.40 euros, for National Bank to 10.60 euros, for Eurobank to 2.50 euros and for Alpha Bank to 1 .90 euros.

O General Price Index closed the week at 1,390.25 points, against 1,443.57 points the previous week, marking a weekly drop of 3.69%, since the beginning of the month it has fallen by 4.25%, while since the beginning of the year it has recorded gains of 7% .51%.

The FTSE/ASE 25 large-cap index closed the week down 4.78% and since the beginning of 2024 is up 7.33%. The FTSE MID mid-cap index ended the week down 2.06%, while it is up 1.77% year-to-date.

The banking index closed the week down 7.20%, while since the beginning of 2024 it has gained 8.20%.

The total value of transactions in this week’s sessions was 595.524 million euros, while the average daily value of transactions was 119.11 million euros against 105.544 million euros.