athens exchange

The Greek stock market was no exception to the rule in most eurozone bourses on Monday, where investor skittishness resulted in moderate losses and low trading volumes. Local traders may also be waiting for today to position themselves in the new seven-year Greek bond.

A mixed session at the bourse on Friday brought the first post-election week to a close with losses for the benchmark, while the market also used some of its cash availability to cover the bond issue by National Bank.

The Athens Exchange (ATHEX) general index closed at 858.33 points, shedding 0.58 percent from Thursday's 863.33 points. On a weekly basis it shrank 4.06 percent.

Despite a decline among banks, the vast majority of stocks ended up on the winning side on Thursday, with the benchmark advancing for a second day in a row, albeit marginally this time.

European slaps on Athens' wrist over handouts by the previous government that are seen endangering the budget's targets, inflicted extensive losses on Greek stocks on Tuesday, and came hand-in-hand with a rise in Greek bond yields. Sazka's public offering for OPAP shares it does not own did not help prices either.

Traders booked recent profits on Monday at Athinon Avenue, selling the confirmation of the government change in Athens, though the suspension of trading for the OPAP stock generated rumors and concerns about the course of one of Europe's biggest gaming companies.

PPC and bank stocks kept the benchmark afloat for a seventh straight day on Thursday, taking it to a 53-month high, with high turnover despite the US Independence Day holiday.

The Greek stock market's benchmark appears to be working its way free of the range it has been trapped in for the last four-and-a-half years, as on Wednesday it climbed to its highest point since February 2015.

The Greek stock market demonstrated a clear lack of direction during Tuesday's session, with banks and the majority of smaller stocks heading lower while the other blue chips offset earlier losses and kept the benchmark afloat.

The majority of stocks enjoyed further gains in the wake of Friday's buying spree during July's first session at Athinon Avenue on Monday. The benchmark recorded a new 17-month high despite the significant reduction in trading volume.

The Greek stock market completed its best six-month period in seven years on Friday, as the benchmark recorded fresh gains of more than 1 percent, although uncertainty set in at the 870-point mark. The main driver of this growth has been the banks index, which has jumped 83 percent since the start of the year.