The outlook following Friday's session at Athinon Avenue, which traders were watching carefully to get an idea of how the market would fare in the weeks ahead, was not rosy, as the benchmark headed south. The chances of a year-end rally have therefore been ruled out, and 2018 is expected to end in negative territory.
Friday's trading session at Athinon Avenue is seen as technically significant for the future of the local stock market, not only up until the end of the year but also the first few days of January, as it is expected to illustrate whether it has a real chance of recovery - following Thursday's meager gains - or if it will continue to be characterized by shallow trade with negative features owing
The Greek stock market managed to hang on to its morning gains and bring an end to its six-day losing streak yesterday, with the benchmark ending the session near its day high. However, low turnover and the general weakness in investor moves suggested that Wednesday's rise was merely technical rather than anything substantial.
Thursday's drop at the Athens stock exchange (ATHEX) was quite tame compared to losses recorded in most other European markets - and considering the slide in Greek bond prices.
The ATHEX general index ended at 652.04 points, shedding 0.74 percent from Wednesday's 656.92 points. The large-cap FTSE-25 index contracted 0.92 percent to 1,705.11 points.
The Greek stock market succumbed to pressure early on Wednesday but eventually narrowed its morning losses almost down to zero by the close.
The Athens Exchange (ATHEX) general index ended at 656.92 points, down less than 0.01 percent from Tuesday's 656.96 points. The large-cap FTSE-25 index contracted 0.39 percent to 1,720.96 points, while the mid-cap index expanded 0.46 percent.