Athens Exchange

The statements by European Central Bank Governor Mario Draghi gave Greek stocks a fresh boost on Tuesday, taking the benchmark to yet another 13-month high after the bank holiday - and on improved trading volume too.

The start of the long weekend in Greece on Friday was reflected in the much quieter trade at the Athens stock market, with prices and indexes split between winners and losers at the end of another week of gains.

The main index of the Greek bourse on Thursday reached highs unseen since May 2018, as the momentum among buyers continued unabated at Athinon Avenue.

The Athens Exchange (ATHEX) general index closed at 850.37 points, adding 0.79 percent to Wednesday's 843.73 points. The large-cap FTSE-25 index expanded 0.45 percent to end at 2,161.94 points.

After a mixed session on Wednesday with more gainers than losers but a slight drop for the main indexes, the benchmark at the Greek bourse came off Tuesday's 13-month high to settle for a mere two-point reduction by the end of the day, on reduced turnover too, as traders took a breather.

Athinon Avenue continued to record gains on Tuesday, with the benchmark edging up to a fresh 13-month high, while turnover exceeded 100 million euros again.

The Athens Exchange (ATHEX) general index closed at 845.95 points, adding 0.38 percent to Monday's 842.76 points. The large-cap FTSE-25 index expanded 0.37 percent to end at 2,160.05 points.

The Greek stock market's usual buying targets - i.e. banks and Public Power Corporation - secured considerable gains at the start of the week, taking the benchmark to a new 13-month high as the market displayed its excitement at the formal announcement of a snap general election.

Piraeus Bank has agreed to sell half a billion euros of non-performing corporate loans to an entity affiliated with Davidson Kempner Capital Management as part of efforts to clean up its balance sheet.
Greece's largest lender by assets on Monday said it is selling loans with a gross book value of 507 million euros ($573 million) and has agreed a price of 240 million euros.

The main index at Athinon Avenue recorded minor losses on Friday in a mixed session that witnessed pressure on stocks including Piraeus, PPC and Ellaktor, while in general the gainers outnumbered the losers by two-to-one.

The majority of Greek stocks saw mild losses on Thursday, with the exception of Public Power Corporation, which fell by more than 8 percent. Many traders took the opportunity to cash in their gains on recent outperformers.

Buyers got back to strengthening their positions on the Greek bourse on Wednesday, taking the majority of stocks close to the day's highs at the close after a rather wobbly start due to the release of the European Commission's third assessment report. Even so, the session's turnover was less than half that recorded on Tuesday.