Terna

Athinon Avenue returned to action on Tuesday after a four-day recess and rewarded those anticipating its reopening with a wholesome session of growth that boosted the benchmark by over 1.7% and pushed daily turnover above 100 million euros. However, the main index once again proved not ready to clear the 1,100-point bar.

Mid- and small-caps on Wednesday served to maintain the upward trajectory of the Greek bourse benchmark, which completed its sixth consecutive session of expansion, albeit marginally, despite blue chips and bank stocks heading south.

The Goldman Sachs comment on Wednesday afternoon that the Greek economy will stay strong despite any political turmoil, and even regain investment grade in three weeks' time, helped the Greek stock market secure gains on Wednesday, even if it had struggled to keep pace with the rest of its eurozone peers. Moody's positive outlook of the local credit sector also helped.

Tuesday was a day of healthy gains on the Greek stock market, reminiscent of the sessions of high growth in the first couple of months of 2023. Assurances by domestic and foreign experts over the strength of the local credit system offered a major boost to bank stocks that led blue chips to a significant rebound.

The rebound expected on Thursday at the Greek stock market, following five consecutive days of decline, did materialize, but the benchmark closed some way from its day-highs.

After a day's respite, the Greek stock market returned to its upward course on Friday, with the benchmark covering some of its Thursday losses on its way toward the 1,000-point mark.

The main index at Athinon Avenue came off its eight-year peak on Thursday with a significant drop that bore the marks of profit-taking, but with a significant trading volume that showed interest remains considerable in the local bourse. This was only the second session of decline for the benchmark of the local stock market since the start of the year.

The constant march higher of Greek stocks continued on Wednesday, on a considerably increased turnover thanks to a number of business deals that not only increased the trading volume but also further fed the optimism among investors for medium-term gains. More than half of the day's turnover took place during the closing auctions.

After a mixed session that saw construction firms and banks defy the trend which saw most stocks heading lower and closing with losses, the benchmark ended the day on Thursday with negligible gains that sufficed to record yet another 11-month high. This was the eighth session of gains out of the last nine for the main index at Athinon Avenue.

The publication, in the Government Gazette, of the decision of the Minister of Finance for the granting of the "license for the development and operation of a casino with a wide range of activities at the Metropolitan Pole" marks the start of the 1 billion euro investment plan for the construction of the casino and the integrated tourist complex in Ellinikon.