Hellenic Exchanges

The benchmark of the Greek bourse headed north on Monday, having spent the entire session in positive territory, although stocks were split down the middle between winners and losers. Although buyers were in the majority, many investors chose to cash in gains recorded over the three previous sessions after the first hour of trading.

Fears of complications in Greece's second bailout review and further tremors in the runup to the US elections weighed on the majority of Greek stocks on Tuesday, with the benchmark giving up close to 1.5 percent.

The absence of any substantial developments in Greece resulted in local stocks heading south on Monday, in line with international markets. The benchmark did post a partial recovery in the afternoon, but not enough to make up for the earlier losses. Trading volume was very low.

April ended with small gains for the Greek bourse benchmark and the banks index despite the minor losses recorded on Thursday. There was more trading activity than than anticipated ahead of the Easter recess and rising stocks outnumbered the losers. The market will reopen on Wednesday, May 4.

Greek stock market investors continued to brace for the worst on Wednesday in the absence of any sign of agreement between Athens and its creditors, with the benchmark chalking up a fourth consecutive day of significant losses. The bourse closed before the European Central Bank convened to discuss whether to extend local banks? emergency liquidity assistance (ELA) cash limit.

International investors appeared particularly reserved during this year?s Greek economy roadshow in New York that concluded on Wednesday. The state of the country?s economy and the seemingly endless negotiations between the government and its creditors did not allow for any new investment programs by enterprises, as what comes first is for the economy to regain its footing.

Listed company Hellenic Exchanges announced that its first-quarter net profit amounted to 4.1 million euros against 4.8 million a year earlier.

Turnover dropped to 10.1 million euros from 10.3 million in 2014, and its net profit per share came to 0.05 euros down from 0.08 euros per share last year. [Reuters]

The Greek bourse began the four-day recess having secured daily gains of 1.06 percent and a weekly rise of 0.61 percent, as the government asked its eurozone peers for cash while making it clear that Russia is not a solution to Greece?s financial problems. Thursday?s trading volume was the second lowest of the year.

All of Wednesday’s stock gains evaporated during Thursday’s trading session in Athens as uncertainty regarding the country’s political and fiscal future overshadowed the positive corporate results announced in the last few days.

The Greek bourse continued rising on Thursday, albeit at a much slower pace due to investors exercising caution ahead of the results of Athens’s negotiations with its creditors and Fitch’s credit rating report.