With losses for the second week in a rowIn the climate of concern that has formed about the course of interest rates of central banks on both sides of the Atlantic, the bankruptcy of the American bank Silicon Valley Bank, and the problems at the Swiss bank Credit Suisse. group closed the market of the Athens Stock Exchange following the downward course of the international markets, falling to a rate of 3.41%.
The bankruptcy of the American bank Silicon Valley Bank, and the problems at the Swiss bank Credit Suisse have been added to the climate of concern that has formed about the course of the interest rates of the central banks on both sides of the Atlantic.
The banking sector was also at the center of liquidations this week, with the banking index recording weekly losses of over 7%.
The new banking episodes with SVB and Credit Suisse Group “dynamitize” one of the favorite choices of investors for this year, European banks and of course Greek banking securities.
But the Greek banks are today able to absorb any shocks from the international markets. Banks have cleaned up their balance sheets using the “Hercules” program. The red loans in the portfolio of banks from 44%. today they have fallen to 8%. Banks maintain capital adequacy ratios well above the minimum requirement and have of course returned to profitability after a series of loss-making years.
The General Price Index closed the week at 1,020.19 points, against 1,056.26 points the previous week, recording a weekly drop of 3.41%, since the beginning of March it has fallen by 9.66%, while since the beginning of 2023 it has recorded gains 9.72%.
The FTSE/ASE 25 large-cap index ended the week down 3.37%, YTD up 10.05%, while the FTSE MID CAP ended the week down 5.33% and YTD of 2023 increases to 3.85%.
The banking index closed the week with a fall of 7.22%, since the beginning of March it has fallen to a percentage of 20.85%, while since the beginning of the year it has gained 14.91%.
Total market capitalization this week fell by 2.271 billion. euros and amounted to 70.811 billion euros, since the beginning of March it has decreased by 6.603 billion. euros, while since the beginning of the year it has increased by 4.949 billion. euro.
SOURCE: APE-ME
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