EYDAP

Encouraged by the positive mood on stock markets on both sides of the Atlantic, traders at Athinon Avenue on Wednesday took the benchmark to its highest closing of the last 17 sessions, although turnover remained low.

The week at the Athens stock exchange got off to a quiet start with a few buyers and no sellers, while more than half of the trading volume concerned pre-arranged deals. Turnover this July bears more resemblance to that which would normally be expected in August, the traditional holiday month, so one can only wonder what levels it will sink to then.

Coca-Cola HBC led the Greek stock index higher on Thursday as the biggest company listed in Athens enjoyed a rise of 3.50 percent, just as the majority of stocks headed lower. Turnover narrowly cleared the 30-million-euro bar.

Domestic and international concerns related to diplomatic and trade issues led the majority of stocks to losses at the end of Wednesday's session at Athinon Avenue.

The Athens Exchange (ATHEX) general index ended the session at 746.70 points, shedding 1.44 percent from Tuesday's 755.33 points.

Daily turnover sank to a new low on Monday but the majority of stocks on the Athens Exchange (ATHEX) edged upward at the start of the week, despite the slump in bank stocks at the very end of the session.

As has been the case in recent sessions, there was little to suggest on Thursday that the local stock market might stage a significant recovery in terms of prices or turnover, as the thin trade saw the benchmark only moving within a narrow five-point range. Buyers had the upper hand up until the end, but the rising trend recorded on other eurozone markets made hardly any impact in Greece.

The earlier-than-expected upgrade of Greece's credit rating by Standard & Poor's did not impress traders at the Athens stock exchange, who appeared to be more concerned about instability both within and outside the country. The majority of Greek stocks posted fresh losses at the end of Tuesday's session, while many blue chips closed at the day's low.

Unfazed by the domestic turmoil over the controversial agreement between Athens and Skopje and the no-confidence motion against the government, investors sent local stocks higher for a third day on Thursday, with turnover matching Wednesday's.

After an initial drop banks enjoyed robust gains on Wednesday, leading the benchmark of the Greek stock market higher. The trigger for the second consecutive day of gains was the prospect of an agreement at next week's Eurogroup.

Greek stocks continued their ascent for a fifth day in a row on Tuesday, as the international climate turned more favorable, although trading volume remains at particularly low levels more reminiscent of August than June.