The Athens Stock Exchange (ASE) stands at the top of the world stock market performance charts for 2019, gaining 43.91 pct in a sustained rebound between January and October that has helped the market recoup many of the losses incurred in the previous five years, analysts reported on Sunday.
This was led by an impressive recovery of banking stock (with the sector up 101.59 pct to reach a 15-month high) and a 13.121-billion-euro increase in its capitalisation since the start of the year.
The market’s upward momentum has peaked after the European elections, when it became apparent that New Democracy would win the next general elections. The bullish climate was further enhanced by a climate of euphoria over the decline in Greek state bond yields, which are continuing their decline to historically low levels.
According to analysts, however, the recovery of the Greek bourse has not quite matched that of the bond market as big institutional investors are preferring to adopt more defensive strategies on the ASE.
Over the 10-month period, the general index of the ASE has gained 269.27 points to reach 882.57 points, up from 613,30 points at the end of 2018. Total capitalisation has risen to 58.391 billion euros from 45.272 billion euros in that time. The total capitalisation of the four systemic banks over this period has increased by 6.214 billion euros, more than doubling from 4.251 billion euros at the end of 2018 to 10.465 billion euros at the end of October.
All sector indices apart from Health (-2.17 pct) have posted gains since the start of the year, with especially high gains for the banking sector, Raw Materials (103.67 pct) and Public Utilities (64.28 pct). – via amna.gr
so step right up ladies and gentlemen, if you still have any savings that we havent stolen or robbed from you, and you can’t wait until we lock you into an electronic cage to strip it from you later, then step right up, and enter the big casino with the shiny lights! every day a winner (and all you suckers, you get a free ice cream cone if you gamble away your life savings, see what a bargain!)
dont miss out on this golden opportunity!!!
are there any real people left in financial markets or is it by now all finance companies and banks playing each other with bot-trading and trillions in imaginary digibit currency created out of thin air?