ATHENS – Since the beginning of the war, the Athens stock exchange has recorded losses of 13.43 pct while the market’s capitalization has fallen by 9.345 billion euros.

The Large Cap index has fallen by 15.0 pct and the Mid Cap index by 8.6 pct. The heaviest losses (-26.64 pct) were recorded in banks.

Meanwhile, Goldman Sachs and UBS are giving a vote of confidence in the Greek economy and the Greek stock market.

Goldman estimated that the General Price Index will rise to 1,175 points in the next 12 months while UBS raised its estimates for growth in Greece, despite the impact of the war in Ukraine.

Specifically, it raised its growth forecast for 2022 to 5.5 pct or 1.5 basis points above market average estimates and 60 basis points above the EU Commission’s forecasts.