Eurobank

The Bank of Greece has submitted a request to the European Commission's Directorate-General for Competition for Attica Bank to draw cash from the emergency liquidity assistance (ELA) mechanism through the issue of Greek state bonds that will be used as collateral.

The Greek bourse moved in line with the majority of eurozone markets on Wednesday, posting a mild correction after two sessions of gains for most of its stocks. Turnover dropped again as traders await the outcome of this weekend's annual meeting of the International Monetary Fund and Monday's Eurogroup.

The disturbingly low turnover was the main feature of the month's first trading session at Athinon Avenue, while banks helped push the benchmark up more than four points, with some support from OPAP gaming company.

September deducted 2.05 percent from the value of the Greek bourse's benchmark as Friday was another day of decline for the majority of blue chips.

The Greek bourse failed to match the momentum recorded on other European stock markets on Wednesday, posting marginal gains on very low trading volume. OPAP gaming company and a few other blue chips kept the main index afloat despite the notable decline of banks.

The Greek stock exchange had a mixed session on Tuesday, with the losses recorded during the day all but offset toward the closing bell, while rising stocks outnumbered losers after another drop in trading volume.

The shock waves resulting from reports that Berlin has ruled out state assistance for Deutsche Bank were felt as far as Athens on Monday, with Greek bank stocks sliding 6 percent. The local benchmark followed suit with losses of more than 10 points and trading volume dropped close to the 30-million-euro mark.

The Bank of Japan's surprise decision to keep interest rates unchanged against expectations for a drop deeper into negative territory bolstered most European bourses on Wednesday before interest turned toward the Fed verdict, but the Greek stock market felt little of that positive effect.

After the excitement witnessed at the Greek bourse on Friday, Monday's trade in Athens returned to a level better suited to mid-August than the end of September, as early gains evaporated and the benchmark ended close to the day's low, while trading volume dropped back below 30 million euros. The association of bourse investors is even considering calling for a reduction in trading hours.

The exit of the stocks of Alpha, Eurobank and OTE telecom from the STOXX Europe 600 Index from Monday led to most (i.e. 72 percent) of Friday's sizable trade being centered around them. This, along with the September triple witching sent turnover soaring and gave the benchmark a much-needed boost at the end of another week of losses.