Eurobank

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.

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.

The Greek stock market continued its rise for another day, as its benchmark climbed to a new 13-year high on Wednesday, though it seemed to hit its ceiling in mid-session, when it challenged the 1,460-point level.

The benchmark of the Greek stock market on Tuesday built on the momentum from the previous sessions and climbed to a new 13-year high. Far from being concerned about the European elections or the domestic politics and finance, traders are keeping an eye on prospective mergers and acquisitions, while the anticipation and excitement sent the daily turnover soaring.