Athens Exchange

For the first time in over 18 months, the benchmark of the Greek stock market completed a fifth consecutive week of gains - even if Friday's session ended with minor losses on the day. The gains registered by most non-banking blue chips made up for the profit taking observed, especially in banks.

The benchmark of the Greek stock market recorded a new four-month high on Thursday thanks primarily to the advance by bank stocks, which continued to rise as a solution concerning the protection of debtors' main residences appears to be near.

Energy stocks led the way and banks recovered in time to help the benchmark revert to gains in Wednesday's session at Athinon Avenue and end near the day's high, albeit on the lowest daily turnover this week.

Last-minute profit taking during Tuesday's closing auctions at the Athens Exchange (ATHEX) inflicted minor losses on the benchmark after wiping out all of its earlier gains. However, the blue chip and banks indexes remained in positive territory, primarily thanks to Piraeus Bank's gains on the day.

The increasing realization that the general elections will probably take place earlier than scheduled and the continued slide in bond yields powered bank stocks to major gains on Monday, driven by National and Piraeus. Trading volume improved too.

After a narrow trading session with very little movement for the benchmark and the blue chip index, the Greek stock market ended the week with another day of marginal gains on low turnover. The market appeared to have factored in the deal between the government and the banks on the protection of debtors' primary residences and it was a mixed day for bank stocks.

The 4.90 percent decline of Coca-Cola HBC, the Greek stock with the highest capitalization, weighed on both the benchmark and the blue chip index on Thursday, despite gains in banks. Trading volume is slowly improving.

Greek stocks presented a mixed picture after Wednesday's session, as a slight majority of stocks as well as the mid-cap and small-cap indexes headed lower, but the benchmark and blue chips continued to rise.

Piraeus Bank's stock was instrumental to the benchmark staying in the black on Tuesday at Athinon Avenue, as the lender rebounded from three consecutive sessions of losses. This brought the main index to a level unseen since December 5, although the majority of stocks ended with losses and turnover remained disappointing.

Stock prices at Athinon Avenue went from losses to gains over the course of Monday's session as the few active investors continue to believe the local bourse is underpriced after the successful bond issue a week ago. This helped the benchmark climb to a two-month high, even though that was on particularly low turnover.