Hellenic Exchanges

Investors appeared uninspired in what was a fairly quiet session at the Greek stock market on Thursday, with the few traders that could be bothered making select purchases. This took turnover back below the 50-million-euro mark while the benchmark kept to a very narrow range.

Greece constitutes one of the most "optimistic investment narratives" and the biggest recovery story for foreign portfolios and international fund managers at the moment.

Athinon Avenue presented a mixed picture on Thursday, swinging back and forth between negative and positive territory before the benchmark finally ended only just in the black while losing stocks edged out the gainers by just one.

The benchmark of the Greek bourse jumped 20 points on Thursday after a sudden buying spree by traders that saw banks earn almost 4 percent. The favorable climate on foreign markets and the continuing decline of Greek bond yields appear to have convinced investors to buy back into local stocks again.

Very positive messages are coming from foreign investors at the investment roadshows this week in which Greek banks and other listed companies are participating, as the interest of funds in local assets has increased.

The MSCI Standard Greece index rebalancing, with the return to its ranks of National Bank, and the continued euphoria from political developments in Athens saw the Greek bourse extend its gains on Tuesday and double Monday's daily turnover, as positive reviews from foreign firms and agencies poured in following the announcement of a snap election.

The closing auctions determined the hue of the indexes at the Greek stock market on Thursday, securing some gains for the benchmark, blue chips and banks, while the mid-cap index closed without a change. There was notable growth in early trade, but those gains evaporated later on before the auctions pushed the majority of stocks back into positive territory.

Warnings from the Bank of Greece and Goldman Sachs over the course of the Greek economy, not to mention international concerns on foreign markets over the raging trade war, led on Wednesday to the complete erasure of the gains recorded by the Athinon Avenue benchmark on Tuesday.

China's response to US trade tariffs caused jitters across the eurozone market, and the Greek bourse was no exception on Monday. The fact that this came after a week of losses aggravated the atmosphere at Athinon Avenue, which is eager for some good news that will help it recover.

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.