GEK

December appears to have started in a relatively slow mode for the Greek stock market, despite the Fitch Ratings boost last Friday and the decline in Greek bond yields. On Tuesday prices at Athinon Avenue headed lower, though their decline was contained during the closing auctions, while trading remained below the 100-milllion-euro mark. 

The fourth straight day of gains for the benchmark at the Greek stock market saw banks and certain blue chips leading the way, as opposed to the blue chip index, which posted a minor loss. Most of the action focused on the credit sector, which is seeing plenty of activity in stake sales these days, attracting the strong interest of foreign traders.

Despite the drop of banks stocks, which left the blue chip index unchanged on the day, the benchmark of the Greek stock market posted a minor increase on Wednesday on the back of the notable rise recorded by mid-caps. The market saw a significant majority of rising stocks in this fourth straight day of price growth, and a decline in the day's trading volume.

Tuesday's session at Athinon Avenue was a one-stock show as it was the first day of trading for Alpha Bank after the major proposal tabled by UniCredit for the Greek lender's stake that bank bailout fund HFSF holds, and the merger of the Italian bank's operations in Romania with those of Alpha. As a result Alpha jumped 12.44%, while most other local stocks registered gains too.

The tender for the new 25-year concession of Attki Odos attracted record-level financial offers, but the highest binding financial offer among the six candidates that participated in the process was submitted by GEK Terna.

Greek stocks suffered yet another slump on Thursday, with their losses growing as the day progressed, with floods in central Greece and the postponement of the prime minister's speech in Thessaloniki not helping stocks recover. Friday's DBRS Morningstar credit rating report on Greece could change all that.

Greek stocks dropped slightly Wednesday after four sessions with cumulative gains of 1.90%. The general index closed at 1,316.94 points, a drop of 0.11%, although it was up 0.30% at one point.

Turnover was €95.54 million with 24,001,624 shares changing hands. Of the 120 shares traded, 43 rose, 61 declined and 16 ended unchanged.

Blue chips slipped 0.12% and mid-caps 0.37%.

The Athens Stock Exchange rose slightly on Thursday but could not scramble above 1,300 points, a level it has found difficult to sustain.

Investors made selective moves in some stocks and turnover was relatively low for a second session in a row.

The general index closed at 1,295.91 points, a 0.17% gain. Blue chips declined 0.11%, mid-caps gained 0.73% and banks slid 0.44%.

The stock market could not hold on to early gains Wednesday after deteriorating Purchase Managers' Index (PMI) numbers soured the mood in European markets.

The general index closed at 1,293.73 points, down 0.52%, on a low turnover of €71.7 million. Blue chips dropped 0.61%, mid-caps 0.31% and banks 0.15%

The Athens Stock Exchange closed with mild gains of 0.9% on Wednesday, ending a run of three negative sessions.

The general index closed at 1,279.92 on turnover of €77.3 million. Blue chips gained 0.24%, mid-caps 0.36% and banks 0.02%.