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The decline of OTE telecom and profit taking in bank stocks saw the benchmark of the Greek bourse ease somewhat on Wednesday from Tuesday's nine-month highs, although the majority of stocks remained in the black for one more session. Reports on election handouts by the government did not help blue chips or bond prices, which also slipped from recent highs.
Unfazed by the decline in bank stocks, the benchmark of the Greek bourse not only held its ground on Tuesday but also climbed to a fresh nine-month high - a level not seen since June 25, 2018. The day started with losses across the board, but most stocks switched from losses to gains as the session went on.
The Greek bourse wrapped up another week of gains on Friday, with the benchmark at a nine-month high. Still, trading volume eased and the positive momentum appears to have slowed.
The Athens Exchange (ATHEX) general index ended at 765.67 points, adding 0.20 percent to Thursday's 764.13 points. It rose for a third consecutive week, by 1.49 percent.
The benchmark at Athinon Avenue climbed to a high unseen in almost nine months on Thursday thanks to the return of buyers and the continuing decline of yields on Greek sovereign bonds. A coalition of bank stocks and other blue chips helped the index to healthy gains on the highest daily turnover in the last 27 sessions.
The mass sale of properties by banks is getting under way with Eurobank's initiative for the concession of two major real estate portfolios with a total value of 120 million euros. They contain residential as well as commercial properties, and their progress will be the first test for the market of major real estate managers.
The benchmark of the Greek bourse ended Monday's session close to last Friday's eight-month high as traders' efforts to cash in recent gains met the resistance of certain blue chips that refused to yield ground. This resulted in a mixed picture on the board, with gainers outnumbering losers at the end of trade.