OpenCalais Metadata: Ticker
The moderate growth posted by the Athens benchmark at the end of Tuesdays trading failed to avert another monthly drop the sixth in a row for the Greek bourses main index, which in September gave up 8.63 percent of its value. It was the first time in three years that the bourse declined for a sixth month in succession.
Hopes of the Greek benchmark extending its four-week rising streak were crushed on Friday as the sessions stock decline sealed a week of losses that came to 2.99 percent for the main index, while daily turnover averaged 21 percent below last weeks.
The Athens Exchange (ATHEX) general index ended at 1,161.28 points, shedding 0.46 percent from Thursdays 1,166.60 points.
September started with marginal losses at the Greek bourse and the fourth-lowest daily turnover this year as investors continued to stay away due to the lack of a clear fiscal landscape ahead of talks between Athens and its international creditors. The revision of the economic contraction during the second quarter by ELSTAT did not help matters either.
Stocks declined in their majority for the firth day in a row in the Greek market on Friday, painting the entire week in red as the benchmark suffered losses of 4.26 percent compared with the end of the previous week. Since the start of the year the index has seen marginal gains of just 0.02 percent.
Greek stocks recorded major losses on Monday as the local market continued to slide for an eighth trading day in a row after the week started with more volatility than expected and declining international markets weighed on their Athens counterpart. A rebound is due, although the upcoming Easter holidays will likely contain any risk taking.