athens exchange

The final bourse session of the week offered mixed feelings to observers, as the rise of banks did not suffice to see the benchmark hold on to its early gains that had temporarily taken it above the 1,500-point milestone. However, the losses eventually recorded were marginal and the index remained in positive territory for a second week in a row.

Thursday gave traders a mixed session at Athinon Avenue, with the majority of stocks and the benchmark narrowly heading lower, while the blue chip index and that of banks moved up, one day after another 13-year high for the main index. The early gains gave way to moderate losses as the benchmark apparently was not yet ready to clear the 1,500-point barrier.

A multitude of blue chips cooperated on Wednesday at the Greek stock market to send the benchmark to highs unseen in more than 13 years. Led by National Bank of Greece, the banks index was the protagonist of a session that brought Athinon Avenue back onto the path toward the 1,500-point level that is now within striking distance for the main index.

The moderate cashing-in of profits that followed last week's notable rise saw the main index of the Greek stock market come off its 13-year highs of last Friday and settle for contained losses upon closing on Monday. Banks reined in the decline, as did some non-banking blue chips, while turnover returned to its usual level after last week's jump.

The benchmark at Athinon Avenue continued its growth on Friday with yet another 13-year record, bolstered by banks and certain other blue chips. However, the trading volume was significantly reduced from Thursday, with turnover dropping to the lowest level of the last 10 sessions.

The Greek stock market returned from its five-day holiday with a jump in prices that sent the benchmark to a new 13-year high on Wednesday, on significantly increased turnover too. Led by the blue chips of the Viohalco group, Cenergy and the National Bank of Greece (NBG), Athinon Avenue has risen to such heights as to consider the benchmark of 1,500 points for its main index.

The first-quarter financial results National Bank released on Wednesday proved a boost for stock prices on Thursday, as the lender rallied to a new eight-year high that reversed the early losses of the benchmark. Trading action was moderate at Athinon Avenue ahead of the Easter weekend, with the bourse set to reopen on Wednesday, May 8.

As the month draws to a close, and with it the period of the year's first four months that is taken into account for the rebalancing of stock indexes, stocks entered the short week (of just three sessions) with a mixed picture: Banks and blue chips ended up lower, but the benchmark, bolstered by mid-caps, managed to offset all losses and close with marginal gains on Monday.

The deal for Epsilon Net boosted not only the information technology sector but also the entire stock market at Athinon Avenue on Friday, leading to a new 13-year high at the end of a week of significant growth across the board. The advance was also fueled by the rise in foreign markets, and has signs of being sustained for the time being.

The benchmark of the Greek stock market came off Wednesday's 13-year high to show notable losses on Thursday, closing at the day's low too. The Athens market continues to anticipate corporate news such as mergers and acquisitions and was predictably in profit-taking mood on the back of six consecutive sessions of gains for the main index.