Greek stocks capitalized on the growth course of a number of eurozone bourses, most notably that of Frankfurt, to gain some ground on Wednesday and send the benchmark at Athinon Avenue to highs unseen since late April.
STOCKS
The two main shareholders of Athens International Airport have reached an agreement in principle on the basic parameters of its listing on the Athens Stock Exchange.
Tuesday offered few surprises to traders at the Greek stock market, with minimal moves for stocks and low turnover, which led to a negligible drop in the benchmark even though the majority of stocks ended up in the black.
Much as stock markets across Europe are entering a festive lull, with many traders having closed their books for the year, the Greek bourse regained its upward momentum on Monday, albeit on reduced turnover.
The Greek bourse managed to contain its high losses early in the session on Friday, but could not avert closing the week in the red.
The European Central Bank’s mindset behind Thursday’s interest rate hike and the unexpected drop in US retail sales in November inflicted losses on most eurozone bourses, with Greece’s being no exception.
Non-banking blue chips stole the show at the Greek bourse on Wednesday, leading the benchmark higher after a mixed session that left banks and mid-caps marginally in the red.
Greek stocks swung from losses to gains over the course of the day on Tuesday as the improved inflation data in the US, showing a deceleration for the second month in a row, led to the recovery of most eurozone bourses.
After a positive start to Monday’s bourse session, the benchmark started losing ground on selective profit-taking by traders that eventually saw the main index end in the red while the indexes of banks and mid-caps closed with gains.
The Greek stock market ended the week with minor gains for the majority of stocks, adding to the weekly growth of the bourse benchmark.
Greek stocks maintained their growth course for another day on Thursday, though this time banks were not the protagonists – that role fell to other blue chips, especially power companies, as well as the majority of mid-caps.
Coming off three sessions of losses, bank stocks at the Greek bourse reacted with a rebound on Wednesday, as the local market shook off the unexpectedly mediocre gross domestic product figures for the third quarter of the year in Greece.
The Greek stock market braved the decline of bank stocks for one more day to see its benchmark notch up minor gains on Tuesday, even though mid-caps and the majority of stocks ended up in the red.
The main index of the Greek stock market remained above the 900-point level for one more day on Monday as at the end of a mixed session the closing auctions brought its losses down to minimum, while a clear majority of stocks enjoyed gains at the start of the week in the face of banks’ decline.
Traders chose on Friday to cash in their recent profits at Athinon Avenue, sending the benchmark of the Greek bourse back close to 900 points through the biggest daily drop in over two months, which also swung the weekly results from gains into losses.
New month, new gains for the Greek stock market, which got December off to a good start with another session of notable growth, on satisfactory turnover too, and that coming on top of Wednesday’s impressive trading.
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