After five days of gains and the buying fatigue recorded late on Monday, stocks at Athinon Avenue recorded notable losses on Tuesday, bucking the trend seen on other eurozone markets, with turnover remaining low. The next couple of days will determine the direction of the market up to the end of the month.
The positive mood at the local bourse showed no signs of flagging on Friday and the benchmark rose in line with the rest of the eurozone. It was another positive day for blue chips, which were boosted by the prospects of a more stable government after this year's general election - now that the obstacle of a snap poll for the election of a new president in 2020 is out of the way.
The government's scolding by the International Monetary Fund and the Eurogroup at the start of the week came as no surprise to local investors, who set the Greek stock market back on the rising course of the last couple of months on Tuesday, taking the benchmark back above the psychologically important 700-point level.
The benchmark of the Greek stock market failed to extend a six-week streak of weekly gains on Friday, as the main index was hit with notable losses in a week dominated by the 10-year sovereign bond issue and Aegean Air's seven-year corporate note. Banks suffered most of the pressure, with investors appearing keen to bank recent profits.