Investors in Greek stocks chose their moves carefully on Friday in anticipation of Monday's Eurogroup, keeping daily turnover below 80 million euros for a second day in a row and creating a mixed picture at the end of a southbound week. This was in line with the instability seen on foreign markets too.
It ain't over till it's over, they say, and that was certainly the case on Wednesday at Athinon Avenue, as the big advances chalked up over the course of the session had all but evaporated by the end of trading, with investors opting to cash in their gains since Tuesday morning, using a eurozone official's statement that there was a 50-50 chance of a deal on the Greek debt at Monday's Eurogroup
Helped on by the highs recorded in the market of London and Frankfurt, the Greek bourse started climbing back up on Tuesday, toward the 800-point mark it came close to last week.
The Athens Exchange (ATHEX) general index closed at 788.78 points, adding 0.83 percent to Monday's 782.32 points. The large-cap FTSE 25 index expanded 0.86 percent to 2,095.67 points.
As anticipated after Thursday's slowdown, the Greek benchmark's 13-day rising streak was halted on Friday as it ended with moderate losses caused by a drop in banks and some other blue chips, although the mid-cap and small-cap indices, as well as the majority of stocks, headed north. The predictable correction saw turnover shrink too.
The benchmark of the Greek bourse ended higher for a 13th consecutive session on Thursday, but sales recorded during the closing auctions suggested its rising streak is coming to an end.
The Athens Exchange (ATHEX) general index ended at 797.16 points, adding 0.66 percent to Wednesday's 791.97 points.
The main index of the Greek stock exchange made it 12 in a row on Wednesday for the first time since its 1999 heyday, as it continued its push toward the 800-point mark. The general picture, along with the recovery of bond prices, points to a return to normality for the local market after the government's agreement with the country's creditors.