The impressive rebound by bank stocks led the benchmark at Athinon Avenue back up to within sniffing distance of 800 points, and the risers outnumbered the losers by almost three to one. After three days of decline, it was considered about time for this market recovery, as there is no obvious reason for stocks to head lower at this point.
The benchmark of the Greek bourse slipped to a three-week low while turnover was the smallest in three months on Monday, partly due to a US holiday that kept buyers away. The reopening of brick-and-mortar stores apparently had little effect on the stock market, which is eager for some assurances this will not be a mere blip.
The Greek stock market picked up the pace again on Thursday, with the benchmark gaining ground on increased turnover, although banks tipped the balance between winners and losers in favor of those that headed lower. Energy stocks are showing notable resilience, which in the view of investors points to a positive outlook for the economy in general.
The Greek stock market closed for Christmas on Wednesday with further gains for most companies, on the strength of the growing prospects of an agreement between Brussels and London over Brexit, although the day's turnover was the lowest in the last 33 sessions. The bourse will next reopen on Monday.
Greek stocks recovered somewhat on Tuesday from Monday's slump due to the UK's troubles with the mutation of the coronavirus and the impasse in the Brexit talks, as the benchmark climbed back up to 780 points. However, the level of trading volume indicated that the minds of many were already occupied with the holidays.