Ellaktor

ATHEX: Benchmark closes at 9-year high

The market's growing optimism about political stability in Greece after the elections and the favorable views on Greek banks by foreign firms contributed to a significant rebound of local stocks on Tuesday that sent the Athens benchmark to levels unseen in nearly nine years. The price rise also came with an increase in turnover, which approached 100 million euros.

ATHEX: Most stocks left behind in late rally

The closing auctions turned things around at the Greek stock market on Tuesday, at the start of the trading week, offering the benchmark marginal gains despite the majority of stocks ending up in the red. International banking concerns appeared to have minimal impact on local credit sector stocks, while construction companies led the rebound.

ATHEX: Late rally by banks boosts benchmark

The banking sector shook off foreign and domestic concerns - related to the decline of US lender First Republic and the promise by main opposition leader Alexis Tsipras to nationalize National Bank of Greece if he comes to power - and swung to gains at the end of Wednesday's bourse session, leaving the benchmark with moderate gains.

ATHEX: Bourse slide contained at auctions

Thursday's bourse session at Athinon Avenue proved to be the second in a row with losses for most stocks, although in the closing auctions the main index contained its decline and the banks index actually swung into gains. Turnover dropped to the lowest level in almost two weeks, but Friday's session is expected to make up for it.

ATHEX: No fasting for buyers at ATHEX

Athinon Avenue returned to action on Tuesday after a four-day recess and rewarded those anticipating its reopening with a wholesome session of growth that boosted the benchmark by over 1.7% and pushed daily turnover above 100 million euros. However, the main index once again proved not ready to clear the 1,100-point bar.

ATHEX: Index posts rebound on thin turnover

The slowing pace of the Fed rate hikes and those that followed in Britain, Switzerland and Norway kept investors at bay on Thursday, though buyers edged out sellers at Athinon Avenue for price growth on low turnover. This time banks underperformed, but they are about to be joined soon by the new listing of Optima Bank in a rare injection of fresh blood in this section of the market.

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