Titan Cement
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Market gains as buyers like blue chips
The Athens Stock Exchange bucked the negative trend observed on European markets Thursday, gaining 0.65% thanks to buying in banks and other blue chips.
The headline index ended at 1,314.31 points on turnover of 87.8 million euros, which was significantly lower than in previous sessions. Blue chips rose 0.69%, mid-caps added 0.44% and banks gained 1.20%.
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ATHEX: Minor decline after highs of Wednesday
The Greek stock market experienced a mixed session on Thursday, with the majority of stocks closing with gains while most indexes posted losses at the end of the day. Traders opted for select sales to cash in their recent gains, so the benchmark came off Wednesday's 111-month high to settle for a minor decline.
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ATHEX: Bourse enjoys session of solid growth
Stocks enjoyed even greater gains on Thursday, following the increase of prices on Wednesday, with banks leading the Greek bourse to significant growth once their index moved back above the 1,000-point mark. The benchmark recorded another solid advance in the face of uncertainty across the rest of the eurozone, on a rare occasion of Athinon Avenue moving autonomously.
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ATHEX: Convincing session of stock gains
Athinon Avenue produced a more convincing session of gains on Wednesday, with the benchmark growing almost 1% and turnover moving above the 100-million-euro mark again. The rebound on European markets and the Fitch report that projected a fiscal overperformance for Greece, as well as the essential window dressing at the end of the year's first half, saw most stocks move up on the day.
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ATHEX: Index hits highest level since 2014
The Greek stock market rebounded after Thursday's respite to post a fresh nine-year high on Friday with the help of most blue chips, though not banks. The June triple witching sent turnover soaring, along with the upcoming rebalancing of the indexes.
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ATHEX: Index posts rebound on thin turnover
The slowing pace of the Fed rate hikes and those that followed in Britain, Switzerland and Norway kept investors at bay on Thursday, though buyers edged out sellers at Athinon Avenue for price growth on low turnover. This time banks underperformed, but they are about to be joined soon by the new listing of Optima Bank in a rare injection of fresh blood in this section of the market.
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ATHEX: Banks lead rebound on stock market
Tuesday was a day of healthy gains on the Greek stock market, reminiscent of the sessions of high growth in the first couple of months of 2023. Assurances by domestic and foreign experts over the strength of the local credit system offered a major boost to bank stocks that led blue chips to a significant rebound.
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ATHEX: Bourse day not for the faint-hearted
No one can claim they got bored watching Thursday's bourse session at Athinon Avenue, as after the 4.55% slump on Wednesday, the fastest in nine months, buyers returned in force on Thursday morning boosted by the central bank's support for Credit Suisse.
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ATHEX: Major drop for almost all stocks
Investor concern about a shift in local politics that may increase the election risk for the government, due to the railway tragedy at Tempe, led on Monday to the biggest daily decline in seven months for the main index at Athinon Avenue. Led by banks, Greek stocks lost a significant portion of their recent gains, as the impact of the train crash does not appear to be going away anytime soon.
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ATHEX: Index stays put following balanced day
Unfazed by political developments in Parliament, the Greek stock market held its ground on Wednesday after its benchmark temporarily climbed above 1,000 points again. Traders engaged selectively in some profit taking while many investors are expecting the issue of corporate results that begins on Thursday, as well as Friday's credit rating report on Greece by Fitch.
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