Eurobank

The March triple witching sent the bourse's turnover soaring to over 350 million euros on Friday, while the benchmark grabbed some more ground, all but offsetting the major losses it had suffered on Monday. That meant the week closed with small losses, for the first time after seven weeks of growth.

A late rally at Athinon Avenue gave the benchmark of the Greek bourse fresh momentum on Thursday, allowing it to easily surpass the 1,400-point barrier and close the day on a high. Non-bank blue chips outperformed, boosting a market that continues to have very high daily turnover levels since the placement of Piraeus Bank shares last week.

The benchmark of the Greek stock market on Wednesday recovered some more of the ground it had lost on Monday, but narrowly missed out on retopping 1,400 points. Turnover remained high for another day as the local bourse edges month after month closer to being readmitted to the group of developed markets.

Investors reacted to Monday's major drop on the Greek stock market and on Tuesday they granted non-bank stocks some recovery, although bank stocks remained under pressure.

The index rebalancing, the constant rally of stocks in recent weeks, the decline of Piraeus Bank (the protagonist of the past week) and the reservations investors showed in foreign markets contributed to a day of major losses at the Greek stock market on Monday, which brought the benchmark below the 1,400-point mark on unusually high turnover.

The Hellenic Financial Stability Fund (HFSF) is one step before the complete divestment from Greece's four systemic banks, after the successful sale of all the shares it owned in Piraeus Bank.

Eurobank has announced overall net profits of €1.14 billion for 2023, compared to €1.347 billion in 2022.

The seventh consecutive week of gains for the benchmark of the Greek stock market closed on Friday with a mixed session that saw rising stocks edge out losers by the narrowest of margins. The corporate results published in the current period also played a part, sending each stock concerned in different directions.

Stocks were evenly split between winners and losers at Wednesday's session in the Greek bourse, though the benchmark recovered half of the ground it had lost on Tuesday, all in the context of the completion of Piraeus Bank's share placement. This has absorbed a significant portion of the market's liquidity, not only this week but also in the previous couple of weeks.

Tuesday offered traders at Athinon Avenue an extensive menu for all appetites, ranging from the drop in bank prices, led by Piraeus after the soaring of the stock on Monday, to the rise of most stocks and the mid-cap index. The benchmark came off Monday's 13-year record high to post some losses, while turnover remained at high levels.