Index

The economic sentiment index in Greece closed with a drop in November, as did the manufacturing purchasing managers' index (PMI), while the slight improvement in the consumer confidence index in no way means that Greeks are not still the most pessimistic people in the European Union or that they stopped worrying about the high market prices.

Erhan Çetinkaya, the head of the Turkish Statistical Institute (TÜİK), has dismissed criticism leveled at the authority over its inflation calculations.

Greece's economic sentiment index fell to 106.4 points in October from 107.7 in September, reflecting a drop in business expectations in the retail commerce, weaker expectations in industry and services, and more optimistic expectations in construction, the Foundation for Economic and Industrial Research (IOBE) said on Wednesday.

Inflation in Cyprus continued to slow in July, rising to 1.5%, the lowest rate since March 2021.

In July 2023, the Consumer Prices Index rose 0.92 points to 115.30 points from 114.38 units in June, according to the Statistical Service.

For the seven months January-July 2023, the consumer price index increased by 4.2% compared to the same period last year. [Financial Mirror]

Two widely used indicators about managers' and consumers' expectations have reached heights not seen in many months, although a local think tank that compiles them warns that such sentiments could prove ephemeral.

The Greek stock market ended the pre-election period with moderate gains as traders chose to position themselves carefully in certain blue chips at the conclusion of a week of small losses for the benchmark at Athinon Avenue.

The benchmark at Athinon Avenue gave up on Thursday all the gains it had collected on Wednesday, as banks led the profit-taking activity by investors, although a number of blue chips, such as Mytilineos, maintained their upward course for another day.

After two days of cautious profit-taking, the Greek stock market reverted to its upward course on Wednesday, led by mid-caps, which grew almost 2% on the day, while blue chips such as Aegean Airlines and Mytilineos climbed to historic highs.

Profit-taking by investors continued at the Greek stock market on Tuesday, although unlike on Monday the decline of the benchmark was contained toward the end of the session, in spite of the steady drop by bank stocks.

The Greek stock market rebounded after Thursday's respite to post a fresh nine-year high on Friday with the help of most blue chips, though not banks. The June triple witching sent turnover soaring, along with the upcoming rebalancing of the indexes.