Viohalco

The shake-up of the MSCI indexes, the 1.7 percent jump in the 10-Greek bond yield and eurozone concerns over the impact of a "hard Brexit" weighed on the benchmark of the Greek stock exchange on Thursday while the bank stocks index sank to a new 33-month low.

As the market awaits the formal announcement of the new composition of the MSCI stock indexes on Tuesday, pressure on most blue chips - especially those in the credit sector - led the benchmark at Athinon Avenue lower on Monday, with turnover climbing above 50 million euros.

Buyers enjoyed a second day of dominance at Athinon Avenue on Wednesday, bolstered by the upward swing of stock exchanges in Europe and the US, and the recovery of Greek bond prices. The low turnover points to a temporary northward trend, though.

The benchmark of the Greek stock market hovered on Friday around the 20-month low it slumped to on Thursday and ended the day virtually unchanged. It registered a weekly decline of more than 2 percent, mainly due to Thursday's steep drop.

Greek stocks presented a mixed picture on Thursday: The majority headed south but the banks index headed higher, helping the benchmark to end the rather volatile session in positive territory. The main index only held on to a fraction of the gains recorded earlier in the day.

The drop was evenly spread across the board at the Greek stock market on Tuesday, with non-bank blue chips sharing the pressure that the credit sector has been suffering over the last few weeks - as the benchmark continues to register new 18-month lows. Although the day started with moderate gains, it ended with the indexes deep in the red again.

The pressure was back on stocks at Athinon Avenue on Tuesday, as market concern over Italy is intensifying and local banks remain an easy target for trader speculation.

The Athens Exchange (ATHEX) general index ended at 681.17 points, shedding 1.47 percent from Monday's 691.30 points. The large-cap FTSE-25 index contracted 1.19 percent to 1,796.06 points.

Losses sustained by Greek banking stocks banished early signs that the local market could head higher on Wednesday, with the benchmark losing all of its morning gains to end up in the red again.

The Athens Exchange (ATHEX) general index ended at 690.27 points, shedding 0.26 percent from Tuesday's 692.04 points. The large-cap FTSE-25 index contracted 0.20 percent to 1,811.98 points.

Greek stocks remained under heavy pressure on Thursday, with the benchmark approaching the psychologically significant 700-point mark and closing at the lowest level since mid-November 2017.

The general index fell 1.74 percent to end at 707.77 points.

The large-cap index gave up 1.82 percent and the mid-cap index was down 1.76 percent.

Greek stocks continued to move in a narrow range for another day yesterday, with the majority ending lower again, but the benchmark at Athinon Avenue put an end to its four-day losing streak and posted a moderate rise, mainly assisted by the fresh drop in Greek bond yields. The only thing that seems to pique investor interest these days is listed firms' general meetings.