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ATHEX: Stocks grow on the year’s lowest volume
The anticipation of more interest rate cuts by the European Central Bank appears to have boosted stocks at the local bourse on Thursday, on a day with the lowest turnover in 2024, owing to the holiday in the US. Banks outperformed and remained the market's driver, though this time the rise was universal among the various sectors of listed companies.
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ATHEX: Monday’s stock gains reversed
On a day of reduced turnover, the Greek stock market recorded losses on Tuesday following two days of growth, in what seemed like a full reversal of Monday's rebound. More than just cashing in on recent gains, traders sent bank prices into a nosedive, partly due to the downgrade of JP Morgan's guidance on Greek stocks from "buy" to "neutral."
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ATHEX: Benchmark drops to a month-low
The decline of stocks continued on Wednesday at the Greek bourse, with the benchmark yielding significant ground as its drop accelerated and it closed at the lowest point of the day. It has also fallen to its lowest point in over a month. The announcement of the takeover of insurance company Europe Asfalistiki by Intracom led to a decline in the latter's price.
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ATHEX: Early losses reverse into fresh gains
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.
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ATHEX: NBG rules the roost on bourse
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.
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ATHEX: Stocks post moderate decline
Concerns abroad about a delay in the start of interest rate reductions by the Fed in the US were partly offset by the positive corporate results that are being issued at the Greek stock market, thereby containing the decline on Thursday at Athinon Avenue for most stocks on the board. Nevertheless, the daily turnover was the lowest of the last 11 sessions.
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ATHEX: Mood swing helps bourse close higher
The Athens bourse had a mixed session on Wednesday, with the benchmark and the blue chips index ending the day with gains, while banks and the majority of stocks ended up in the red. The mood changed, and with it the color of the main index, after the release of the US inflation data in March. This third rising session for the bourse also showed a notable rise in turnover.
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ATHEX: Three-day week begins with decline
A short trading week of just three days has started at the Greek stock market with a moderate decline for the benchmark and the majority of stocks, though a number of blue chips responded to pressure and rebounded. Turnover also showed signs of significant recovery on Tuesday, after one more long weekend and ahead of another.
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ATHEX: More growth for stocks at Athinon Avenue
The prospect of interest rate cuts in the US and Europe boosted markets in the eurozone and sent the Greek bourse benchmark higher on Thursday. Despite receiving little support from the usual suspects - i.e. the banks - the main index and that of blue chips gained more ground, confirming that despite the temporary cashing-in efforts, traders have a bullish attitude for the long term.
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ATHEX: Benchmark grows 4.2% in February
February ended at the stock market with an impressive session, that extended the month's gains for the benchmark and doubled the daily turnover, due to yet another stock rebalancing. That was the fourth consecutive month of growth for the main index, which has augmented 4.19% since end-January.
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