FTSE/Athex Large Cap

Domestic and international concerns related to diplomatic and trade issues led the majority of stocks to losses at the end of Wednesday's session at Athinon Avenue.

The Athens Exchange (ATHEX) general index ended the session at 746.70 points, shedding 1.44 percent from Tuesday's 755.33 points.

Daily turnover sank to a new low on Monday but the majority of stocks on the Athens Exchange (ATHEX) edged upward at the start of the week, despite the slump in bank stocks at the very end of the session.

As has been the case in recent sessions, there was little to suggest on Thursday that the local stock market might stage a significant recovery in terms of prices or turnover, as the thin trade saw the benchmark only moving within a narrow five-point range. Buyers had the upper hand up until the end, but the rising trend recorded on other eurozone markets made hardly any impact in Greece.

The lowest daily turnover of the year at the Greek stock exchange confirmed more than just the beginning of the summer holiday in Athens on Monday; far from emerging from the crisis era, Athinon Avenue still appears to be a shallow market swayed by a few speculative moves. The benchmark at the day's low wiped out all of Friday's gains.

The payment of stock dividends at Athinon Avenue, the negative climate on international markets and the increasing devaluation of the market (through the ongoing Folli Follie saga and the loss of buying interest in mid- and small-caps), led to significant losses for the majority of Greek stocks on Thursday.

There was little movement on the local stock exchange on Wednesday as the rises registered by most European markets and the decline of the Greek benchmark bond's yield failed to impress traders. With two sessions left till the end of the year's first half, banks continued to lose ground. The credit sector's stocks have returned to prices below those of their last recapitalization.

The Athens bourse spent almost the entire session on Wednesday showing benchmark and blue-chip gains, only for sellers to reverse the trend in the closing auctions, wiping out the advances. Nevertheless, growing stocks outnumbered decliners.

After an initial drop banks enjoyed robust gains on Wednesday, leading the benchmark of the Greek stock market higher. The trigger for the second consecutive day of gains was the prospect of an agreement at next week's Eurogroup.

Fresh concerns over Italy weighed on most European stock markets on Wednesday, leading to losses of over 1 percent for the benchmark at Athinon Avenue, on particularly low turnover. The ongoing saga concerning Folli Follie is not helping the local market at all, and a prosecutor launched an investigation into the case on Wednesday.

Greek stocks continued their ascent for a fifth day in a row on Tuesday, as the international climate turned more favorable, although trading volume remains at particularly low levels more reminiscent of August than June.