Motor Oil

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ATHEX: Weekly stock losses reined in

After the major drop on Thursday, Greek stocks posted a notable recovery on Friday, covering more than half of the previous day's loss, and on increased turnover too.

The Athens Exchange (ATHEX) general index ended at 712.46 points, adding 1.58 percent to Thursday's 701.36 points. On a weekly basis, however, the benchmark posted a 2.95 percent decline.

ATHEX: Stock sellers are waiting in the wings

Monday was another mixed day for the Greek bourse. Stocks were split between winners and losers, the benchmark had some moderate gains but the banks' index was virtually unchanged, and mid-caps conceded some ground. The drop in turnover compared with three declining sessions last week shows that a likely return of sellers is on the way.

ATHEX: Benchmark edges higher

The Greek bourse had already priced in the issue of a five-year bond, so there was little reaction on the part of investors on Monday. A brief uptick in trade during the closing auctions proved enough to push the benchmark into positive territory and reverse losses for the banks index.

ATHEX: Benchmark comes off high

As signs had shown on Monday, stocks on the Greek bourse confirmed on Tuesday that they have run out of steam - at least for the short term - suffering sizeable losses as the benchmark fell from a 28-month high. The quality of the drop points to it being more than a mere correction after the recent gains.

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