Ellaktor

The targeted profit-taking, the December "triple witching" and the FTSE index rebalancing led to a significant increase in turnover on Friday, which appears to be the exception in a significantly quiet month. Most stocks headed lower, with the benchmark coming off a 14-week high, though mid-caps headed higher.

Traders at the Greek stock market stayed on the same path of caution they have been on throughout December to date, with reduced action at Athinon Avenue and a mixed picture for stock prices on Monday. 

However, despite a drop in the blue-chip and banks indexes, the benchmark managed to end up in the black for the day, albeit marginally.

The Helleniq Energy placement dominated proceedings at the Greek stock market on Friday, accounting for over two thirds of the day's trading. However, the small rise of the main index did not suffice to avert a weekly drop, with banks continuing their decline (with five sessions of losses in the last six) following their previous rally.

November proved to be a very profitable month for the Greek stock market, and not only for bank stocks, whose index soared 12.44%, but also for the benchmark, which has grabbed 6.88% from October 31. The month ended with a high-trade day due to index rebalancing and gains for most stocks, which took the main index to a new 12-week high on Thursday.

The Greek stock market benchmark came off a 12-week high on Tuesday to post minimal losses, in what was a mixed session that saw banks return to price growth and the majority of stocks heading lower, while turnover remained at Monday's high levels.

The decline of the stock of National Bank of Greece did not suffice to prevent the benchmark from climbing to a new 12-week high on Monday. The daily turnover reverted to high levels at the start of the week that might bring Greece once again to climbing the steps to investment grade as Fitch Ratings will issue its verdict on Friday.

For the third day in a row the benchmark of the Greek stock market closed with losses that affected half the board's stocks. However, on Thursday the turnover was significantly increased compared to previous days. Banks led the decline, with the exception of National Bank, while corporate results continued to dictate the moves of investors.

Wednesday's session at the Greek stock market was a mirror image of the day before, as the main index again posted small losses, while mid-caps outperformed and winning stocks were level with those that declined for a second day in a row.

Blue chips gave up some ground on Tuesday at the Greek stock market, although overall losing stocks matched the exact number of gainers on the day. The benchmark came off Monday's seven-week high with some gains cashed in by traders, while certain non-bank large-caps remained on an upward course for another day.

The main index at the Greek stock market climbed to a new seven-week high on Monday with banks and a few more blue chips leading the rest of the bourse higher on a day of relatively low turnover. The trend of the market remains upward after the previous months' decline, and the year-end window dressing promises even greater gains for local stocks.