The flexibility that the credit sector has secured from the European Central Bank and the reserved optimism that the restriction measures in Greece are bearing fruit, amid more handout pledges by the government, saw the local stock market head higher on Monday in a relatively calm environment for global securities.
The European Central Bank decision to lift its 33 percent limit on euro area government bond purchases gave Greek stocks a second consecutive day of healthy gains on Thursday. The bourse saw its capitalization grow by 2.5 billion euros over those two sessions, with credit sector stocks playing a major role in that advance.
The reserved optimism of Greek epidemiologists about the course of Covid-19 in Greece over the last three days was reflected in stock prices on Tuesday, as confidence in the quickly taken, firm measures and the fiscal easing decided across the European Union have led to some relief for battered bourses, including Athinon Avenue.
Monday's session at the Greek bourse was short and sour for stocks. The start was delayed by over four hours due to technical problems in data transmission, and the benchmark suffered major losses in the three-and-a-half hours of trade (an hour's extension was granted), with banks once again enduring most of the pressure.