For the 3rd consecutive day, the Athens Stock Exchange continues its upward movement, which, despite the morning volatility, is trying to break the resistance of 1,435 points.

The positive sentiment abroad, where the DAX in Frankfurt is hovering at historically high levels (above 20,000 points), undoubtedly provides valuable support to the Greek market, which is attempting to maintain the positive sentiment of the current week.

However, the sky is not only cloudless, given the political developments in France, which threaten to blow up the fragile stability of the Eurozone at a time that poses a number of challenges.

More specifically, in the 3rd session of the week, the General Index is up a cautious 0.42% to 1,435.18 points, gaining about six points from Tuesday's close (1,429.22 points).

The arc of daily fluctuations extends to 10 points (from 1,427.95 to 1,437.99 points), with the turnover of transactions ranging at 52 million euros, of which 6.9 million euros are pre-agreed packages.

The official denial about the tax on bank profits may be boosting the Athens Stock Exchange, but the buyers' "fuel" appears to be gradually running out.

Thus, despite strong financials and attractive valuations, weakness in other blue chips is evident, while banks are experiencing significant gains of 6.5% over a two-day period.

The big problem of the current period is, of course, the political uncertainty in France, which risks blowing up the fragile economic balance in the Eurozone's No. 2 country. This situation has significant implications for the overall stability of the continent.

Some analysts are questioning the wisdom of anticipating a traditional "Santa-Claus rally" in the upcoming days, particularly given the delay in the breakdown of key resistances.

On the other hand, however, there are also the more optimistic ones, who do not rule out a gradual convergence of the General Index first to 1,450 points and then to 1,502 points, a one-year high and a 13-year high.

It is worth noting that the main index, from the beginning of 2024, offers an average return of 10.5%, with corresponding gains in banks estimated at at least +15% (although they are about 10% away from this year's records).

Today, meanwhile, the "new" Attica Bank premieres on the board, as the shares resulting from the exercise of warrants are admitted to trading, completing the second part of the €735 million capital increase.