Terna Energy

Friday's mixed session at Athinon Avenue had the blue chip index close in the red, while the majority of stocks managed to drag the benchmark back into the black with the help of a handful of energy blue chips.

The impact of inflation and rising interest rates on first-half corporate results of listed companies continues to put pressure on stock prices at Athinon Avenue, as the benchmark of the Greek bourse suffered fresh losses on Wednesday.

The majority of stocks at Athinon Avenue posted a moderate decline on Wednesday, as the bourse failed to build on its Tuesday recovery. There was little in the direction of selling but even less action among buyers, so most of the day's reduced turnover went toward bringing prices down.

Greek stocks declined slightly in August's last session at the Athens Stock Exchange (ASE), as investors locked in profits, although on a limited scale. What stood out though was the sudden surge in turnover, to €453.75 million.

Concerns over Greek tourism, given the forest fires on Rhodes and Corfu, put an end to the rising streak of the Athens stock market on Monday, with the indexes suffering small losses and the losing stocks outnumbering the gainers, on reduced turnover too. Still, Aegean Airlines recorded a new historic high on the day.

Friday's narrow trading session at the Greek stock market concluded with some gains for most, at the end of a week of price growth that sent the benchmark to yet another nine-year high at the close. Barring any unforeseeable factors, the short-term trend at Athinon Avenue remains positive, with prices rising in line with the temperatures.

Athens' stock market went up, then down and then back up on Wednesday, the end result being the benchmark's closing at a high unseen since early April 2014, even if the day's turnover was not as robust as on Tuesday.

The benchmark of the Greek stock market appeared once again on Thursday reluctant to measure itself against the 1,300-point level it had last reached in June 2014, and gave ground on a day of reduced trading volume.

Profit-taking by investors continued at the Greek stock market on Tuesday, although unlike on Monday the decline of the benchmark was contained toward the end of the session, in spite of the steady drop by bank stocks.

Traders at the Greek stock market considered Monday to be a good time to cash in their recent gains, in the absence of several institutionals given the holiday in the US, which also resulted in the lowest daily turnover recorded in over 20 sessions.