The Greek bourse may have seen a decline in daily turnover on Monday, owing to the US holiday that kept the New York stock market closed, but most stocks posted significant gains, leading the benchmark to a new 13-year high. Growth was evenly spread across the market, confirming that investors, especially from abroad, are seeking out opportunities in the lower capitalizations too.
Motor Oil is close to the signing of a memorandum of cooperation that will provide for the acquisition of Ellaktor's subsidiary, Helector.
Negotiations between the two listed groups are at an advanced stage and the last steps to complete the agreement are expected to take place, barring unforeseen circumstances, in the near future.
Athinon Avenue ended its fourth consecutive week of gains on Friday with a minor increase for its benchmark that extended its weekly gains somewhat, although the first few hours of the session had promised significantly higher price growth. This follows the positive momentum observed across most other European markets and is expected to prevail for the week to come, too.
The US inflation data shook European markets, including Greece's, which suffered losses in its indexes and the majority of stocks on Tuesday. This was the third straight session of losses for the benchmark, after it hit a 13-year high last week. Turnover was boosted by the inclusion of Athens International Airport in the FTSE indexes.
The benchmark of the Greek stock market came off Thursday's 13-year-high to record moderate losses on Friday at the end of another week of price growth, the third in succession. The continued rise of foreign bourses, including Wall Street, has helped. As of Monday the main index at Athinon Avenue will incorporate Athens International Airport.
The sixth consecutive session of gains at the Greek stock market brought the benchmark not only to another 13-year high, but also above the 1,400-point mark, on significantly increased daily turnover too. All this was before the entry of the 300 million shares of Athens International Airport, which is scheduled for Wednesday.
The banks index took the lead in Monday's bourse session at Athinon Avenue and took the benchmark to a new 13-year high, close to the 1,400-point landmark. Traders appear convinced that the Greek stock market is about to return to the group of advanced bourses, so they insist on expanding their exposure in it starting from its biggest companies.