Vio

Stock prices took a step back on Wednesday at Athinon Avenue, after the four-month high reached on Tuesday, with trading volume slowly picking up.

The Athens Stock Exchange once again posted very slight gains, but at least the general index reversed four weeks of losses, posting a nearly 3% rise for the week.

The main index gained 0.30% Friday, closing at 1,299.76 points. Turnover was quite low, at €59.6 million. Blue chips gained 0.21% and small-caps 0.43%, while banks lost 0.98%.

Negative sentiment in European markets and investors locking in short-term gains led the Greek stock market to drop for a third successive week on Friday.

The week's final trading session was decisive for the negative trend.

Despite anothe negative session, the Athens Stock Exchange managed to stay above 1,300 points and limit early losses that reached 3.22%.

Considering the selling pressures that developed abroad after Fitch Ratings downgraded the US debt, holding on above the 1,300-point threshold can be considered a success.

Stocks at the Greek stock market nosedived the day after the general election, though the reasons for the biggest benchmark drop in the last three months are related to external factors: the worries about stability in Russia, following the Wagner mutiny last weekend, and the subdued mood across European markets made the early euphoria at Athinon Avenue evaporate, with stock sales gathering pace

The Greek stock market took last Friday's positive report by Fitch Ratings in its stride. Still, the new strain of the coronavirus has put fresh pressure on stock prices across the continent and most local blue chips took fresh losses on Monday.