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No loss of momentum - Looking for 13-year highs | TheGreekDeal.com
Athens Stock Exchange
No loss of momentum - Looking for 13-year highs
The upward movement continues for the 6th session on the Athens Stock Exchange.
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The stock market is on course to extend its bullish streak and 13-year highs, with buyers appearing to be back in good shape after geopolitical tensions in the Middle East eased, albeit with more restraint today. Specifically, the General Index reached 1,458.89 points (+0.76%) but slowed down and is now up 0.4% at 1,453.70 points.

Turnover is up again today, already at 62 million, while 17 million pieces have been traded The banking index, after rallying 3% today, is up 0.75% to 1,266 points, the FTSE is up 0.45% to 3,547 points; and the mid-cap FTSEM is up +0.34% to 2,335 points. The market yesterday broke through the 1,425 key resistance zone that had plagued it for the last two months or so with momentum and moved even higher to a new 13-year record with another 1.9% jump, and buyers seem to have returned for good, especially after S&P unexpectedly upgraded the outlook for the Greek economy on Friday.

Banks continue steadily up, with Alpha only diversifying negatively, at -0.2% despite a strong start. In contrast, NBG i is up 1.3%, Eurobank is up 0.9%, and Piraeus is up 0.88%. In the blue chip rotation, the baton seems to be passing Motor Oil today with a 2.5% jump, with Sarantis following closely at +2.2% after strong results announced before the open and Cenergy and LPE at +1%. PPC is poised for a fourth day of gains at +0.9% and Jumbo for a fifth at +1%.

Conversely, Mytilineos corrects slightly after its own five-day rally of nearly 10%, OTE retreats 0.35%, and OPAP marginally gains 0.1%. With a high turnover already above 2 million euros (6th highest of the day to date), El. Venizelos moves with a subtle gain of 0.09%. In the mid-cap sector, Intrakat stands out, gaining 1.2% after impressing yesterday with its figures, and Epsilon rallies 6.8%.

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