Unconvinced at this point that it can actually break out of the narrow range and test a convergence or surpass the record highs of 1,502 points, the Athens Stock Exchange continues.
It may be that in the previous two days the General Index… smiled, closing at the highest of the day, but it remains significantly below 1,450 unitswhich are a good dividing point between uptrend and downtrend in the short term.
THE successive fundraising Of course, they affected investor sentiment, as the huge supply of shares dried up the market and absorbed much of the available liquidity.
And this at a time when foreign investors are consistently sellers. So what is needed is a new catalystwhich will be the right argument to convince traders to put their money in Athens.
THE corporate financial results Q3 could fill that role, especially if they beat analyst estimates and set the stage for more higher guidance throughout 2024.
Contact the ECB
At the same time, attention turns to the European Central Bank, which is preparing for the 3rd stage of monetary easingsince after the “knife” of June and September, Christine Lagarde will announce new interest rate reduction by 25 basis points.
With inflation now close to the 2% target, Frankfurt’s main concern is supporting the economy which has been flirting with stagnation for months. And for this reason this monetary change is considered necessary.
In fact, analysts do not rule out news rate reduction by 25 basis points at December meetingbringing the total range of monetary intervention to 100 basis points.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)