EYDAP

ATHEX: Early losses give way to late growth

The Greek stock market opened the week with a 2.1% decline in Monday's first few minutes, as a result of the shocking news of Credit Suisse's demise and takeover by fellow Swiss lender UBS, but stocks gradually began to recover and swung back into the black as the session progressed to close with moderate gains in their majority.

ATHEX: Index loses 15 points in one day

The Greek stock market came off Wednesday's 101-month high to see its benchmark post a notable decline that was eventually smaller than its mid-session losses on Thursday. A late stop-loss reaction that culminated during the closing auctions arrested the decline of the main index, but losing stocks outnumbered the gainers by three to one.

ATHEX: Index at peak of almost 11 months

The outlook for Greece's sovereign credit rating to return to investment grade and the 50-million-euro package of Mytilineos shares that changed hands on Monday gave a fresh boost to the Greek stock market at the beginning of the week, with its benchmark climbing to highs unseen in almost 11 months. This was the sixth consecutive session of gains for the bourse.

ATHEX: ECB attitude sends stock prices lower

Despite the early euphoria on most European markets after the peaceful inauguration of Joe Biden in Washington, which led Asian stocks higher too, the afternoon saw prices slide at Athinon Avenue, led by banks. Traders would have liked to hear some more concrete comments from the European Central Bank on Thursday other than Frankfurt's decision to stay put.

Greek stocks end positive, very quietly

Thursday's session on the Athens Stock Exchange was even more subdued than recent days, if that is possible.

In the end, the general index, which had been showing mild losses throughout, tipped over into positive territory, closing at 637.27 points, a gain of 0.36%. Late gains in OTE Telecom were the main reason.

Turnover was €23.61 million on volume of 16,373,894 shares.

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