Eurobank

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EFG

ATHEX: Benchmark slumps to 7-week low

Friday's session at the Greek bourse proved to be a bull trap, as after the halfway point the early gains swung to losses and the majority of stocks closed the week with a significant drop - in line with the fall of the Credit Suisse stock in Zurich - in what was the second straight week of prices shrinking at Athinon Avenue.

ATHEX: Local stocks react to days of decline

The reaction of Greek stocks to several days of decline, which had even put the benchmark's grip on the 1,000-point mark at risk, finally arrived on Tuesday, with banks leading the recovery of prices at Athinon Avenue. The advance accelerated after the announcement of inflation data from the US, with the main index closing near the day's highs.

ATHEX: Banks record dramatic weekly drop

The rising sequence of 11 weeks came to an emphatic end on Friday, with the Greek bourse benchmark this week losing a significant portion of the ground gained over the last month. This was topped by a strong decline on the day, amounting to almost 2.5 percentage points, driven by international concern over banks, which also affected the local credit sector's prospects.

ATHEX: Bourse stems outflow of stock cash

The Greek bourse appears to have stemmed the outflow of funds seen at the start of the week and is preparing for its next move upward, after another session - on Wednesday - where blue chips rebounded, with the exception of banks. Reports by foreign firms, such as that by Jefferies, indicate that there is more to come from where the January and February momentum came from.

ATHEX: Major drop for almost all stocks

Investor concern about a shift in local politics that may increase the election risk for the government, due to the railway tragedy at Tempe, led on Monday to the biggest daily decline in seven months for the main index at Athinon Avenue. Led by banks, Greek stocks lost a significant portion of their recent gains, as the impact of the train crash does not appear to be going away anytime soon.

ATHEX: Index loses 15 points in one day

The Greek stock market came off Wednesday's 101-month high to see its benchmark post a notable decline that was eventually smaller than its mid-session losses on Thursday. A late stop-loss reaction that culminated during the closing auctions arrested the decline of the main index, but losing stocks outnumbered the gainers by three to one.

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