Ellaktor

The benchmark at Athinon Avenue continued its growth on Friday with yet another 13-year record, bolstered by banks and certain other blue chips. However, the trading volume was significantly reduced from Thursday, with turnover dropping to the lowest level of the last 10 sessions.

The deal for Epsilon Net boosted not only the information technology sector but also the entire stock market at Athinon Avenue on Friday, leading to a new 13-year high at the end of a week of significant growth across the board. The advance was also fueled by the rise in foreign markets, and has signs of being sustained for the time being.

The benchmark of the Greek stock market came off Wednesday's 13-year high to show notable losses on Thursday, closing at the day's low too. The Athens market continues to anticipate corporate news such as mergers and acquisitions and was predictably in profit-taking mood on the back of six consecutive sessions of gains for the main index.

The benchmark of the Greek stock market on Tuesday built on the momentum from the previous sessions and climbed to a new 13-year high. Far from being concerned about the European elections or the domestic politics and finance, traders are keeping an eye on prospective mergers and acquisitions, while the anticipation and excitement sent the daily turnover soaring.

The Greek stock market accelerated its growth on Monday, with its benchmark posting gains of almost 2% on the back of growth from most blue chips, including the banks, and despite the rather modest daily turnover. This has taken the main index safely above the 1,400-point mark, after a daily rise unseen in almost five months.

Concerns over a possible expansion of the war in the Middle East, with the involvement of Iran, weighed on the Greek stock market, inflicting losses on the benchmark on Friday. Even so, the index narrowly maintained the 1,400-point level and got to close the week with net growth, with turnover also rebounding.

Concerns abroad about a delay in the start of interest rate reductions by the Fed in the US were partly offset by the positive corporate results that are being issued at the Greek stock market, thereby containing the decline on Thursday at Athinon Avenue for most stocks on the board. Nevertheless, the daily turnover was the lowest of the last 11 sessions.

The Greek stock market rebounded on Monday, following last week's decline, with most stocks securing significant gains, led by banks.

As a result the benchmark regained the 1,400-point level, ending the day not far from the session's high. The report by the Bank of Greece, which undercut the government's growth estimate, did not seem to affect the mood of the market.

Stocks went up, then down, and eventually - in the closing auctions - back up, during Thursday's session of the Greek bourse. Traders appeared reluctant to bring the benchmark closer to the 1,400-point level, as they obviously need a pretext for a solid recovery, following the recent decline.

Stocks continued their decline on Wednesday at the Greek stock market, led by banks, which had traders cashing in some of the last few weeks' gains. Turnover was significantly reduced compared to Tuesday.