ATHEX: Stock index and turnover end November on a high note

The MSCI stock index rebalancing was completed on Friday, while investors repositioned themselves accordingly, leading to a second day of notable gains at Athinon Avenue, as many foreign traders closed their books for the year at the end of a month that saw the main index slide 1.55 percent.

ATHEX: Stocks rattled by commotion over Brexit

Europe-wide concerns at the looming prospect of a British exit from the European Union without a prior agreement on terms have been affecting local stocks all week, and Friday was no exception, while the continuing sell-off of shares in the three banks that will exit the MSCI Standard index has taken the banks index down to a new 33-month low.

MSCI relegation for three lenders takes them off investors' radars

MSCI has confirmed the worst-case scenario by deciding to strike the stocks of three out of the country's four systemic banks - National, Piraeus and Eurobank - from the MSCI Standard Greece index and relegate them to the MSCI Small Cap Index during the biannual revision of its indexes, with an immediate impact on the Athens stock exchange's banks index, which tumbled 7.1 percent on Wednesday.

ATHEX: Shake-up of indexes puts pressure on bank stocks

The relegation of National Bank, Eurobank and Piraeus Bank from the MSCI Standard index for emerging markets into the MSCI Small Cap Index, from which Ellaktor has also been removed, had a significant impact on Wednesday's trading session at Athinon Avenue, hurting the prices not only of bank stocks but other sectors too.