OpenCalais Metadata: Ticker
The fourth consecutive day of gains at the Athens bourse gave the the benchmark its biggest advance as it climbed close to the 800-point mark, in line with most other markets that were open on Monday. Turnover topped 50 million euros despite the fact that major markets such as those of the US, Hong Kong and China were closed due to holidays.
Underperforming its European peers, Athinon Avenue was virtually flat at the end of the week's first session as it failed to catch the wave of gains observed in the rest of the eurozone, partly due to concerns about the course of the pandemic in Greece. Losing stocks narrowly edged out the gainers, but most indexes closed with slight growth.
The impressive rebound by bank stocks led the benchmark at Athinon Avenue back up to within sniffing distance of 800 points, and the risers outnumbered the losers by almost three to one. After three days of decline, it was considered about time for this market recovery, as there is no obvious reason for stocks to head lower at this point.
The Greek stock market picked up the pace again on Thursday, with the benchmark gaining ground on increased turnover, although banks tipped the balance between winners and losers in favor of those that headed lower. Energy stocks are showing notable resilience, which in the view of investors points to a positive outlook for the economy in general.
The Greek stock market closed for Christmas on Wednesday with further gains for most companies, on the strength of the growing prospects of an agreement between Brussels and London over Brexit, although the day's turnover was the lowest in the last 33 sessions. The bourse will next reopen on Monday.