Economy"Devil's week" on the Stock Exchange: drop of 4.55%,...

“Devil’s week” on the Stock Exchange: drop of 4.55%, the General Price Index below 800 units

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With a strong fall of 4.55%, the stock market closed the week ending with the market falling below 800 points.

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Specifically, at a low level of more than two months, amid a negative climate in international markets, which are facing aggressive moves by central banks worldwide, the Athens stock exchange closed the week of 19 to September 23, registering a fall of 4.55% and the General Price Index below 800 units.

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Interest rate hikes tend to become a daily occurrence, with the cost of money rising and fears of a recession intensifying, while massive rate hikes also create negative sentiment in bond markets.

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The bar on the final level of interest rates continues to rise, and this trend is reinforced by the Fed, which now expects its reference rate to reach 4.4% by the end of the year and rise to 4.6% in 2023.

Analysts now see the ECB’s deposit acceptance rate at 3% in May, double what was forecast at the beginning of the month.

In Britain, the Bank of England’s key interest rate is expected to rise to 5% in 2023.

General Price Index: At 798.11, registering a fall of 4.55% compared to the previous week.

The General Price Index closed the week at 798.11 points, compared to 836.17 points the previous week, 4.55% less, since the beginning of September it has fallen by 6.80%, while since the beginning of year has dropped by 10%, 66%.

The banking index closed the week with losses of 5.88%, while since the beginning of the year it has fallen at a rate of 8.65%.

The total value of transactions in this week’s sessions was €177.062 million, while the average value of transactions fell significantly to €35.412 million, from €68.386 million last week.

The total market capitalization fell this week by 2,563 million euros and stood at 58,248 million euros, while since the beginning of the year it has decreased by 7,844 million euros.

source: iefi merida

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