Athens Exchange

he Athens Stock Exchange finally aligned itself with the positive turn on the European markets Tuesday, as it rebounded from Monday's significant losses to close 1.47% higher.

This rebound was achieved on very low turnover, which dropped below €30 million, a clear indication of investors' reluctance to see an upside.

World markets were upbeat on Tuesday, following the announcement of bolstering measures by the central banks of the US and Japan, while expectations for an economic rebound starting in the second half of the year added to global stocks' upward swing. In Greece, Athinon Avenue enjoyed a day of significant gains that rose over the course of the day across the board.

The benchmark of the Greek stock market resisted heading south on Monday despite spending most of the day in the red and seeing its eurozone peers suffer losses. A late rally offset all of the day's losses, although the blue-chip and the mid-cap indexes ended with a small decline and turnover remained at low levels.

After a session of ups and downs, buyers retained the upper hand in the closing auctions at the Greek stock market on Friday and pushed the benchmark into the black after three consecutive days of losses.

The Athens Exchange (ATHEX) general index ended at 646.80 points, adding 0.29% to Thursday's 644.90 points. On a weekly basis it declined 5.36%.

The Fed's {decision on Wednesday to hold the key US interest rates unchanged inflicted losses on most European stock markets on Thursday; the Greek bourse followed suit, with its benchmark heading south for the third day in a row, on the lowest daily turnover in 11 sessions.

Losses accelerated at the Greek stock market on Wednesday as buyers were far outnumbered by buyers and the benchmark closed at the day's low. Bank and energy stocks lost much of the ground gained in recent days.

Bank stocks continued their advance on Tuesday, while investor attention was focused on the benchmark bond issue, but non-banking stocks dragged the main index lower at the start of this four-day trading week at Athinon Avenue.

The rally of bank stocks at Athinon Avenue on Friday added to the week's gains for the benchmark of the market, while mid-caps had a day of moderate gains given that foreign investors appear to be largely ignoring them.

The Athens Exchange (ATHEX) general index ended at 683.46 points, adding 2.04% to Thursday's 669.79 points. On a weekly basis it advanced 4.73%.

Traders had appeared set to cash in recent stock gains at Athinon Avenue on Thursday, but the European Central Bank's announcement that assistance for eurozone member-states would be boosted contained the drop in prices, while the mid-cap index went up.

Bank stocks were back in the driving seat at Athinon Avenue on Wednesday, taking the Greek bourse benchmark to a new three-month high - i.e. its highest since the coronavirus epidemic began in Greece. The 700-point milestone seems to be growing closer, while investors appear to have plenty of disposable cash.