Hellenic Exchanges

The Greek bourse continued rising on Thursday, albeit at a much slower pace due to investors exercising caution ahead of the results of Athens’s negotiations with its creditors and Fitch’s credit rating report.

The early deferred tax assets euphoria at the Greek bourse wore off during the afternoon on Thursday, with gains turning into losses far greater than those obeserved on most other Western markets. Some urgent stop-loss moves sent the benchmark close to the day’s lowest point at the closing.

After a morning in the red, the Greek stock market’s benchmark bounced back from 1,090 points to post minor gains at the end of Wednesday’s session, despite the losses incurred by the banks index (down 0.37 percent).

The majority of Greek stocks enjoyed moderate gains on Wednesday as buyers dominated the latter part of the bourse session, although the daily turnover declined again on growing investor uncertainty.

Friday’s reaction by stock buyers at the Greek bourse was rather to be expected, but it proved to be a correction move short on steam, as the end of the session found the benchmark just above the day’s lowest point and merely posting marginal gains from Thursday’s close.

March’s triple witching Friday saw the majority of shares hit by considerable losses on the highest turnover in the last four months.