The benchmark of the Greek stock market rose to a seven-week high on Tuesday as it continued its recovery in tandem with the easing of restrictions on economic activity announced. It appears the market will continue to ebb and flow according to the course of the pandemic even after the end of the lockdown next week.
Despite Wednesday's early gains at Athinon Avenue, in line with most eurozone bourses, the session ended with a relatively small increase on particularly low daily turnover, which points to the market's reservations about the economy's emergence from the coronavirus crisis, especially as far as the creation of new nonperforming loans for Greek lenders is concerned.
The Greek stock market returned to action after four days of recess with strong gains for most stocks on Tuesday on optimism that the worst of the coronavirus pandemic in Europe is over and oil prices will revert to stability after the recent agreement between oil-producing states. The late surge was bolstered by news that Greece is planning to tap the markets.