What is the reason for the slow rise of the stock market?

Eleven and today, as we used to say in the army, remained to close Trading year 2023. A year full of profits and events. One year Fertile In returns since the AXA general index is +37% since the beginning of the year, the FTSE25 index of interest mainly to those dealing with derivative products is at +36%, the FTSEM mid-capitalization index is at +54% and the banking sector index is +60%. .

A year full of events, such as investment grade recovery, updated assessment of the economy and banks, capital raising, acquisitions, mergers, and stock placements. National Bank And in Hellenic Energy (ELPE) its strategic entrance unicredit in Alpha Bankas well as divestment of HFSF from systemic banks.

What does all of the above indicate? Mobility, attention and confidence. Three keywords, which are the basic conditions for a vibrant stock exchange with strong prospects. Strong but also strong prospects, because in the first months of 2024 it is expected that the HFSF will divest from the capital of Piraeus Bank, and the entry of the Athens International Airport to the stock exchange, while the second and final phase of full privatization is and is expected to be completed in time. A little later than the National Bank.

Since overseas institutional investors have “closed their books” since November after recording their capital gains, returns and accompanying bonuses, we are not expected to reveal their movements until the end of the year, except during Friday’s meeting. Where we have the lastTriple charming» In financial derivatives for the year 2023.

So the latest stock market meetings may not have a festive nature. After all, the general index from October until today, which started from 1111 units in its recent upward journey, is moving more like a “cog” in Kalavryta, slowly but surely conquering new price levels, not like the French TGV trains.

The target of 1,345 units, which remains the high for 2023, does not appear to be met again until the end of the year. But it is important for the general index to maintain its strength above 1270 points. In order not to lose contact by trying to break the psychological resistance of 1300 units upwards and at the same time avoid testing the downward breakdown of the strong support level of 1245 units.

Therefore, the Athens Stock Exchange is likely to fluctuate at these levels, unless… Meetings Ha Nourish it Which European Central Bank On December 13 and 14, expect early positive surprises. However, even the argument and wording that will support the Fed’s decision and outline positive future moves is likely to provide a new and surprising boost on its own.

For those investors who are eager for additional returns until the end of 2023, we should remember the positive forecasts that will continue until 2024. In the year in which, as the major investment houses describe, new highs will be recorded for Wall Street indices, interest rates will decline and the global economy will continue to… In growth.

But also within the country there is positive news from the real economy. Continued cooling of the debt-to-GDP ratio, lower interest rates, and the deployment of European funds from support programs in Europe. ΡRF And dealswill maintain or increase investor interest.

Especially in the banking and energy sectors, which top international investment demand. Finally, regarding Attract money On the Athens Stock Exchange, it should be noted that in the recent period, there has been a transfer of funds to Greece and from other markets in southern Europe.