The Greek stock market returned from the Easter break with more appetite for growth, as on Tuesday its benchmark climbed for the 11th session in a row.
STOCKS
The Greek stock market has completed the first half of April without a single southbound session for its main index
The Greek stock market made it nine sessions of price growth in a row on Wednesday as most stocks registered moderate gains.
Athinon Avenue returned to action on Tuesday after a four-day recess and rewarded those anticipating its reopening with a wholesome session of growth that boosted the benchmark by over 1.7%
The Greek bourse entered its four-day recess in line with most European bourses after yet another session of growth for its benchmark, the seventh in a row.
Mid- and small-caps on Wednesday served to maintain the upward trajectory of the Greek bourse benchmark.
The benchmark at the Greek stock market tested the waters around the 1,080-point level and returned below 1,070 points on Tuesday, closing with minimal gains that sufficed to make the session the fifth in a row with growth for the bourse.
Energy and bank stocks led the Greek stock market to its fourth consecutive session of price growth on Monday, albeit on a relatively low turnover.
The benchmark of the Greek stock market cleared the 1,050-point bar on Friday, but that was not enough to prevent it from ending the month of March with a loss.
A day before the end of the year’s first quarter, the Greek stock market regained some more of the ground lost in previous days and appears to be regaining some of its January and February momentum.
The Goldman Sachs comment on Wednesday afternoon that the Greek economy will stay strong despite any political turmoil, and even regain investment grade in three weeks’ time, helped the Greek stock market secure gains.
Traders at Athinon Avenue reacted with surprise to the largely predictable announcement of the general election on May 21, swinging the main index of the Greek stock market to losses that exceeded 1% by the end of Tuesday’s session.
The Greek bourse recovered almost half of the ground it had lost in the near-3% decline of its benchmark last Friday, but it was on particularly low turnover, which does not bode well for the coming days.
International concerns over the credit system will no go away easily, and the reacted with fear over the course of Deutsche Bank on Friday inflicting losses on almost all bank stocks in the eurozone.
The slowing pace of the Fed rate hikes and those that followed in Britain, Switzerland and Norway kept investors at bay on Thursday, though buyers edged out sellers at Athinon Avenue for price growth on low turnover.
The late decline mainly by bank stocks led the benchmark of the Greek bourse to moderate losses on Wednesday, although the majority of stocks posted gains.
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