“The Greek stock market recorded an impressive first half of December. The best week of the year has brought the banking index within striking distance of this year’s high, with its total annual return exceeding 20%. The General Index is also in double-digit performance just a few sessions before closing out its 4th straight up year, with the 100-point rally from the November low having turned the trend bullish across the board,”
Petros Steriotis, a member of the International Federation of Technical Analysts, notes in his weekly commentary.
“At the level of individual blue chips, the excess of the price at which the recent placements were made “relieves” a multitude of investors who believed and placed in them. The gradual conversion of accounting losses into profits obviously implies the stimulation of investor psychology and may result in the diffusion of added liquidity across the entire board,” it says, among other things, adding: “The General Index is “sweet-talking” towards 1,500 points, hoping to receive … “holiday gifts” from positive seasonalities such as window dressing and January effect. The developments regarding the pricing of banking services and the impact this will have on the earnings of the indexed domestic financial sector in the coming years remain critical.”
Πέτρος Στεριώτης (Χρηματιστής) Petros Steriotis 