Viohalco

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.

Just like in Tuesday's session, stocks started with gains at Athinon Avenue on Thursday but eventually had to settle for losses. Despite the positive start on Wall Street, the closing auctions at the same time in Athens took the main index lower, beyond -1%, on increased turnover.

The benchmark of the Greek stock market narrowly managed to avoid dropping below the 800-point mark on Monday as investors indulged in profit taking following the recent gains enjoyed by most stocks. All but two blue chips suffered losses, led by banks, in line with most other European markets.

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.

Athinon Avenue eased off Monday's 11-month highs on Tuesday, with the benchmark dropping just over 1% on lower trading volume than on Monday. Banks headed south, but energy stocks mostly headed higher again. Observers consider this cashing in of recent gains quite predictable.

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.

Thursday's bourse session was relatively quiet ahead of Friday's triple witching, with some selective profit-taking among blue chips. Stocks were split between winners and losers, with banks showing some significant fluctuations before settling for moderate losses.

Fresh hopes of a Brexit deal on Tuesday gave stocks across Europe a fresh push, with Greek stocks following suit to take the local market's benchmark back up to within striking distance of the 800-point level. Turnover has increased in the last few sessions, this being the last full trading week of the year.

The Greek bourse benchmark advanced for a 10th consecutive session on Thursday, a streak unseen in almost four years, as stocks are now extending November's momentum into December. The index recorded a new ninth-month high - and without the help of bank stocks this time.

The Athens Exchange (ATHEX) general index ended at 766.82 points, adding 0.97% to Wednesday's 759.47 points.