FTSE/Athex Large Cap
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.
he Athens Stock Exchange finally aligned itself with the positive turn on the European markets Tuesday, as it rebounded from Monday's significant losses to close 1.47% higher.
This rebound was achieved on very low turnover, which dropped below €30 million, a clear indication of investors' reluctance to see an upside.
After a session of ups and downs, buyers retained the upper hand in the closing auctions at the Greek stock market on Friday and pushed the benchmark into the black after three consecutive days of losses.
The Athens Exchange (ATHEX) general index ended at 646.80 points, adding 0.29% to Thursday's 644.90 points. On a weekly basis it declined 5.36%.
Bank stocks were back in the driving seat at Athinon Avenue on Wednesday, taking the Greek bourse benchmark to a new three-month high - i.e. its highest since the coronavirus epidemic began in Greece. The 700-point milestone seems to be growing closer, while investors appear to have plenty of disposable cash.
The benchmark of the Greek stock market now has the 700-point level in its sights after its sixth day of gains in seven sessions. Construction blue chips led the way this time.
The Athens Exchange (ATHEX) general index ended at 658.35 points, adding 0.88% to Friday's 652.58 points. The large-cap FTSE 25 index expanded 0.52% to 1,579.70 points, while mid-caps contracted 0.25%.
The upcoming rebalancing of the MSCI Greek stock indexes and profit taking after five consecutive days of gains led to losses at Athinon Avenue on Friday, with a huge daily turnover. Notably 70% of trading volume took placing during the closing auctions. The benchmark of the Athens stock market ended May with a monthly advance of 3.87%, though banks lost 2.94%.
Early profit-taking at Athinon Avenue gave way to a fresh wave of buying later on Thursday - although banks appeared to have fallen out of favor - taking the benchmark higher for the fifth session in a row. The market is now confidently looking toward more growth, boosted also by the significant increase in daily trading volumes.
The European Commission announcements concerning grants and loans for member-states adding up to 750 million euros gave Greek stocks a major boost on Wednesday, in line with most other European bourses. The fourth consecutive day of gains on the highest turnover of the last two-and-a-half months took the benchmark over 8.5% higher compared to last Thursday's closing.