Ellaktor
Stocks lose ground on low turnover
The unexpected move by Italy's government to slap a windfall tax on local banks and Moody's downgrading of certain US banks affected European stock markets negatively on Tuesday, leading investors to sell shares and turn to government bonds. Athens followed.
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Market gains as buyers like blue chips
The Athens Stock Exchange bucked the negative trend observed on European markets Thursday, gaining 0.65% thanks to buying in banks and other blue chips.
The headline index ended at 1,314.31 points on turnover of 87.8 million euros, which was significantly lower than in previous sessions. Blue chips rose 0.69%, mid-caps added 0.44% and banks gained 1.20%.
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Stock market loses grip on early gains
The Athens Stock Exchange proved unable to hang on to early gains recorded on Tuesday. The ASE general index, which got close to its highest levels since 2014, ended down 0.84%, closing at 1,324.28 points.
Negative trends in other European stockmarkets finally were felt in Athens.
Blue chips lost 0.91% and mid-caps dropped 1.35%. Banks lost 0.78%.
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ATHEX: Decline at the end of the week
Traders cashed in some of the week's gains on Friday ahead of the announcement of the first-half results by the systemic banks that should shape the new week. The day's decline reversed the weekly gains into losses, while the market had already priced in the favorable stress test results of the systemic banks, announced after the conclusion of the session.
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ATHEX: Bourse hits level unseen since 2014
The Athens bourse reverted to its rising course with renewed strength on Tuesday, as the benchmark of the market climbed to highs unseen since early April 2014 thanks to the positioning of several investors in local companies ahead of Greece's much-anticipated credit rating upgrade. Still, the main index stopped short of the 1,350-point mark, closing three points off the mid-session high.
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ATHEX: Stock market index edges even higher
A number of energy and industrial blue chips kept the Greek stock market benchmark on a positive course on Friday, in the face of the decline of the majority of stocks and the banks index. The main index ended the week at another nine-year high through its marginal growth, which revealed fatigue on the part of traders and the resilience of some index-heavy stocks.
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ATHEX: Blue chips drive stock index higher
Even without the support of bank stocks, the Athens bourse benchmark soared to yet another nine-year high on Wednesday, in line with the positive mood across eurozone markets. Four out of the 21 non-banking blue chips closed at historic highs, also helped by the Scope Ratings report about the growing prospect of Greece regaining investment grade.
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ATHEX: Benchmark bounces back from losses
On Tuesday high-flying Mytilineos Group and the banking sector led the Greek stock market back to its upward course that has dominated Athinon Avenue throughout this year.
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ATHEX: Benchmark adds 1% on low turnover
Proceeding in line with fellow eurozone markets, the Greek bourse produced gains of almost 1% for the benchmark on Monday, following three sessions of decline last week. However, there was also the domestic dimension that played its part, with traders showing their satisfaction with the measures the government promised in Parliament for strengthening the capital market.
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ATHEX: Stock buyers pause for a breather
The Greek bourse benchmark halted its six-session rising streak on Wednesday, with the main index coming off a nine-year high to concede a little ground and losing stocks narrowly edging out the gainers on the day.
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