OpenCalais Metadata: Ticker
The Greek stock market managed on Tuesday to maintain the gains its had secured on Monday and added some more for its benchmark, which climbed to yet another 13-year record high, even though the mid-cap index and the majority of stocks headed south. The local bourse continues to show resilience and is expected to continue down the same path for the next few weeks at least.
The US inflation data shook European markets, including Greece's, which suffered losses in its indexes and the majority of stocks on Tuesday. This was the third straight session of losses for the benchmark, after it hit a 13-year high last week. Turnover was boosted by the inclusion of Athens International Airport in the FTSE indexes.
The benchmark of the Greek stock market came off Thursday's 13-year-high to record moderate losses on Friday at the end of another week of price growth, the third in succession. The continued rise of foreign bourses, including Wall Street, has helped. As of Monday the main index at Athinon Avenue will incorporate Athens International Airport.
The sixth consecutive session of gains at the Greek stock market brought the benchmark not only to another 13-year high, but also above the 1,400-point mark, on significantly increased daily turnover too. All this was before the entry of the 300 million shares of Athens International Airport, which is scheduled for Wednesday.
The rally continued at the Greek stock market on Wednesday, with the benchmark climbing to a new decade-high despite the fragmented picture among blue chips. Eventually the main index advanced thanks to specific buys made among non-bank large-caps. Mid-caps outperformed once again, as traders seek out investment opportunities in underbought stocks.
The Greek stock market managed on Tuesday to hold on to some of its mid-session gains, with the benchmark closing near the decade-high recorded on January 15. Stocks showed a mixed picture, with the gainers narrowly outnumbering decliners, the blue chip index ending with growth and banks posting a small drop.
A universal move upwards for stocks in the Greek bourse on Monday led the benchmark to major gains and the daily turnover well above the 100-million-euro mark. The main index has now climbed to levels unseen since the end of last July, while investors are also looking forward to the listing of Athens International Airport that the government has decided.
Wednesday's mixed session at the Greek stock market may have seen the majority of stocks (including banks) decline and the daily turnover revert to more subdued seasonal levels, but the benchmark continued its ascent for a second straight day to climb to levels unseen in 16 weeks, above the 1,300-point mark.