FTSE/Athex Large Cap

Traders continued to sell Greek stocks on Thursday as conflicting statements from officials on the local economy and an adverse international environment kept up the pressure on local stock prices. Even so, both the indexes and the prices managed to rise above the day's low by closing time.

Traders continued to sell Greek stocks on Thursday as conflicting statements from officials on the local economy and an adverse international environment kept up the pressure on local stock prices. Even so, both the indexes and the prices managed to rise above the day's low by closing time.

Athinon Avenue on Monday followed the global sell-off trend triggered by Washington's intention to raise the trade war stakes with China, posting remarkable losses that were even greater for bank stocks.

The decline of OTE telecom and profit taking in bank stocks saw the benchmark of the Greek bourse ease somewhat on Wednesday from Tuesday's nine-month highs, although the majority of stocks remained in the black for one more session. Reports on election handouts by the government did not help blue chips or bond prices, which also slipped from recent highs.

Unfazed by the decline in bank stocks, the benchmark of the Greek bourse not only held its ground on Tuesday but also climbed to a fresh nine-month high - a level not seen since June 25, 2018. The day started with losses across the board, but most stocks switched from losses to gains as the session went on.

Foreign investors are making a dynamic comeback in the Greek market of renewable energy sources (RES), which has accounted for the biggest deals in the business sector in the last couple of years.

The Greek stock market remained split between winners and losers on Wednesday, with blue chips enjoying a day of gains and mid-caps suffering mild losses while turnover remained at a satisfactory level. It appears the market is now awaiting Standard & Poor's verdict on Greece in 15 days' time.

Bank stocks' recent gains were bound to lead to profit taking at some point. That point came on Thursday, but barely affected the rest of the market, as mid-caps and small-caps headed higher to split the board between winners and losers.

The expected approval of a 1-billion-euro disbursement to Athens by Friday's Eurogroup, after Wednesday's favorable European Commission report, secured further gains for the majority of stocks at Athinon Avenue, which was accompanied by the continuing decline of Greek bond yields. The stock benchmark climbed to its highest level in almost eight months, just short of 750 points.

The Greek bourse benchmark rose 1.96 percent over the month of March, taking the growth of the main index in the first quarter of the year to 17.62 percent.

The Athens Exchange (ATHEX) general index ended at 721.37 points on Friday, adding 1.08 percent to Thursday's 713.66 points. On a weekly basis it advanced 1.85 percent.