Titan Cement

Much as traders appeared eager to cash in Wednesday's stock gains, Athinon Avenue reversed its losses and ended Thursday's session on a new 13-year high for its benchmark, supported by key blue chips such as Eurobank and Public Power Corporation. Winners and losers on the day ended up in a dead heat. Turnover continued to grow.

The first-quarter financial results National Bank released on Wednesday proved a boost for stock prices on Thursday, as the lender rallied to a new eight-year high that reversed the early losses of the benchmark. Trading action was moderate at Athinon Avenue ahead of the Easter weekend, with the bourse set to reopen on Wednesday, May 8.

As the month draws to a close, and with it the period of the year's first four months that is taken into account for the rebalancing of stock indexes, stocks entered the short week (of just three sessions) with a mixed picture: Banks and blue chips ended up lower, but the benchmark, bolstered by mid-caps, managed to offset all losses and close with marginal gains on Monday.

The deal for Epsilon Net boosted not only the information technology sector but also the entire stock market at Athinon Avenue on Friday, leading to a new 13-year high at the end of a week of significant growth across the board. The advance was also fueled by the rise in foreign markets, and has signs of being sustained for the time being.

The benchmark of the Greek stock market on Tuesday built on the momentum from the previous sessions and climbed to a new 13-year high. Far from being concerned about the European elections or the domestic politics and finance, traders are keeping an eye on prospective mergers and acquisitions, while the anticipation and excitement sent the daily turnover soaring.

Investors reacted to Monday's major drop on the Greek stock market and on Tuesday they granted non-bank stocks some recovery, although bank stocks remained under pressure.

The placement of the state's stake in Piraeus Bank deservedly monopolized interest at Athinon Avenue on Monday, and the huge interest generated boosted the benchmark and most other stocks in the market that climbed to new 13-year highs.

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.