Athens Exchange
Eurobank more than doubles Q1 earnings
Greece's third-largest lender Eurobank more than doubled its first-quarter net profit on the back of lower provisions for impaired loans and higher fee and commission income, it said on Friday.
Eurobank, which is 2.4% owned by the country's HFSF bank rescue fund, reported net earnings of 57 million euros, up from €22 million in last year's first quarter.
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Eurostat: Annual Inflation Down to 0.1% in Euro Area
In May 2020, a month still marked with COVID-19 containment measures, euro area annual inflation is expected to be 0.1%, down from 0.3% in April according to a flash estimate from Eurostat, the statistical office of the European Union.
ATHEX: Rebalancing leads to jump in turnover
The upcoming rebalancing of the MSCI Greek stock indexes and profit taking after five consecutive days of gains led to losses at Athinon Avenue on Friday, with a huge daily turnover. Notably 70% of trading volume took placing during the closing auctions. The benchmark of the Athens stock market ended May with a monthly advance of 3.87%, though banks lost 2.94%.
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Greece’s Eurobank more than doubles Q1 profit as loan-loss provisions drop
Greece's third-largest lender Eurobank more than doubled its first-quarter net profit on the back of lower provisions for impaired loans and higher fee and commission income, it said on Friday.
Eurobank, which is 2.4% owned by the country's HFSF bank rescue fund, reported net earnings of 57 million euros ($63.4 million), up from 22 million euros in last year's first quarter.
ATHEX: Fifth straight day of gains for benchmark
Early profit-taking at Athinon Avenue gave way to a fresh wave of buying later on Thursday - although banks appeared to have fallen out of favor - taking the benchmark higher for the fifth session in a row. The market is now confidently looking toward more growth, boosted also by the significant increase in daily trading volumes.
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ATHEX: Stocks leap on reports from Brussels
The European Commission announcements concerning grants and loans for member-states adding up to 750 million euros gave Greek stocks a major boost on Wednesday, in line with most other European bourses. The fourth consecutive day of gains on the highest turnover of the last two-and-a-half months took the benchmark over 8.5% higher compared to last Thursday's closing.
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ATHEX: Banks grow 12.3% to lead index higher
Despite the hour-long interruption to Tuesday's trading session due to a technical failure, bank stocks staged an impressive rebound of more than 12%, taking the benchmark at Athinon Avenue to fresh gains. The international climate continues to improve as hopes for a coronavirus vaccine keep growing, helping turnover in the local market to recover.
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ATHEX: Investors get ready for rebalancing
On a day when Wall Street and the London Stock Exchange remained closed, the Greek bourse secured a rather satisfactory turnover of almost 50 million euros on Monday, with traders opting to position themselves ahead of this Friday's upcoming index rebalancing. Leading the benchmark to strong gains were bank stocks, which were oversold in previous sessions.
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ATHEX: Benchmark ends week 2.7% higher
Banking and energy stocks boosted the Greek bourse on the last day of this week, although the benchmark ended up holding onto just a fraction of the gains it had recorded before the closing auctions. Even so its consolidation well above the 600-point mark is a positive omen ahead of next week.
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ATHEX: Investors shift sights to bonds
The Greek securities markets are showing a shift from stocks to bonds, as confidence in the state's solvency is growing while the private sector is facing multiple problems. On the same day the benchmark of Athinon Avenue suffered minor losses and banks dipped to new lows, the Greek 10-year bond continued its rally, with its yield dropping to 1.73% on Thursday.
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