FTSE/Athex Large Cap

Athinon Avenue eased off Monday's 11-month highs on Tuesday, with the benchmark dropping just over 1% on lower trading volume than on Monday. Banks headed south, but energy stocks mostly headed higher again. Observers consider this cashing in of recent gains quite predictable.

The Greek bourse hit the ground running on the first trading day of 2021 on Monday, with prices growing as the session progressed and the closing auctions taking the benchmark above 820 points for the first time in almost 11 months. This time it was mainly energy stocks and other non-bank blue chips that led the index higher.

The benchmark at the Greek stock market came down from a 10-month high on Tuesday with minor losses as many traders chose to secure some of their recent earnings - as increased daily turnover also illustrates - while stocks were largely split between winners and losers.

The Greek stock market closed for Christmas on Wednesday with further gains for most companies, on the strength of the growing prospects of an agreement between Brussels and London over Brexit, although the day's turnover was the lowest in the last 33 sessions. The bourse will next reopen on Monday.

Greek stocks recovered somewhat on Tuesday from Monday's slump due to the UK's troubles with the mutation of the coronavirus and the impasse in the Brexit talks, as the benchmark climbed back up to 780 points. However, the level of trading volume indicated that the minds of many were already occupied with the holidays.

Though few admitted to it, there was much anticipation that Friday's triple-witching session at the Greek bourse would be the one to take the benchmark above the psychologically significant level of 800 points.

Thursday's bourse session was relatively quiet ahead of Friday's triple witching, with some selective profit-taking among blue chips. Stocks were split between winners and losers, with banks showing some significant fluctuations before settling for moderate losses.

The benchmark of the Greek stock market reverted to its northbound course on Wednesday, but once again it ducked back below the 800-point mark before the close, after testing the waters during the session. It will probably take one more final push for the index to reach that level, and with tomorrow seeing the last triple-witching session of the year, anything is possible.

The Greek bourse endured some pressure during Tuesday's trade, but the benchmark only suffered minimal losses, the majority of stocks secured gains and bank stocks continued to rise, although turnover did drop to its lowest level in the last 14 sessions.

Fresh hopes of a Brexit deal on Tuesday gave stocks across Europe a fresh push, with Greek stocks following suit to take the local market's benchmark back up to within striking distance of the 800-point level. Turnover has increased in the last few sessions, this being the last full trading week of the year.