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The benchmark at Athinon Avenue continued to reflect the nervousness of a market held hostage to the protracted negotiations between representatives of the Greek government and the country's creditors in Brussels ahead of Friday's Eurogroup meeting, with stocks posting a small decline on Tuesday on limited turnover.
Reports that Monday's Eurogroup had ended without any news of progress in the negotiations between Athens and its creditors inflicted a late blow on the Greek bourse benchmark yesterday, with the impact felt mostly by bank stocks. In fact the majority of stocks remained in the green on closing, unaffected by the concerns mainly coming from foreign investors.
Stocks on Thursday did not build on Wednesday's gains, as investors went back to waiting for news from the bailout review.
The Athens Exchange (ATHEX) general index closed at 656.04 points, shedding 0.02 percent from Wednesday's 656.17 points. The large-cap FTSE 25 index expanded 0.11 percent to 1,752.86 points.
The anticipation of the start of talks between the government and the country's creditors next week, as well as the long weekend - that saw many traders cut their week short - resulted in a particularly quiet session on the local stock market on Friday, with a mixed picture dominated by sliding banks and rising small-caps.
The prospect of an agreement between Athens and its creditors in Brussels on Friday fueled stock prices at Athinon Avenue and went some way toward dispelling the sense of despair that had culminated on Thursday. Bank investors finally had something positive to act on, leading the credit sector stocks to a rise of 6.61 percent. However, it wasn't enough to offset all of the week's losses.