Eurobank

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.

Much as traders appeared eager to cash in Wednesday's stock gains, Athinon Avenue reversed its losses and ended Thursday's session on a new 13-year high for its benchmark, supported by key blue chips such as Eurobank and Public Power Corporation. Winners and losers on the day ended up in a dead heat. Turnover continued to grow.

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.

Last year's financing by Greek banks for shipping increased by 12.25%, expanding their share in the sector compared to international banks, which reduced their positions. 

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.

The decline of bank stocks at Athinon Avenue on Tuesday dragged the rest of the market lower too for the day, but April closed with gains of 1.84% for the benchmark. Notably, a number of blue chips bucked the trend and notched up impressive growth on the day, pointing to the potential for a further advance in the days to come.