Folli Follie

Top designers of Greek-based international Folli Follie unveiled the Santorini Flower Collection for Autumn-Winter 2015-2016. Take a peak into the innovative group’s “Window to the World” campaign…

The Greek bourse reacted with disappointment on Thursday after investors? hopes for a deal between Athens and its creditors, which spurred a mini-rally on Wednesday, once again failed to materialize, with some of the traders reaping capital gains.

Traders hailed the government?s facing up to reality and conceding to the demands of the country?s creditors, as the Greek stock market enjoyed another day of healthy growth that came on an increased turnover too.

The prospect of convergence between Athens and its creditors on a technical extension of the Greek bailout agreement, coupled with some signs that Parliament may elect a president and prevent snap polls sent stocks soaring on Friday, though this time it was non-banking blue chips that led the way.

Investors’ wait-and-see stance regarding Greek stocks left the benchmark virtually unchanged on Monday, with the smattering of gains recorded during the day evaporating by the end of the session. Moody’s decision to postpone its revision of Greece’s credit rating contributed to the reduced trade at the start of the month, with turnover dropping to very low levels.

The local market’s seven-month slide came to an end in November, with the month providing a 5.17 percent boost to the benchmark, which looks more like a correction considering the previous period of losses. The growth trend was confirmed on Friday as traders gave a final push to the main index, although many observers argue that was little more than window dressing.

The benchmark of the Greek stock exchange has added more than 8 percent in just two sessions, climbing almost 40 points on Wednesday on reports that the government is close to reaching a deal with its creditors and that international credit rating agencies are about to upgrade Greece.

After the morning growth up to the 1.024 points, the benchmark of the Athens stock market dived to 945 before settling for 958 at the end of Monday's session, as investors chose to cash in on the gains generated last week before the announcement of the banks’ stress test results on Sunday.

Greek securities recovered on Friday about half of the ground lost over the previous three days in a spectacular rebound in both stock and bond prices that was fueled by a combination of factors in the context of a general resurgence of European markets.

Greek stocks continued to slide on Tuesday as the benchmark edged mighty close to the psychological threshold of 1,000 points, registering a new 12-month low.

The Athens Exchange (ATHEX) general index ended at 1,012.05 points, shedding 2.26 percent from Monday’s closing of 1,035.43 points. The large-cap FTSE/ATHEX 25 index contracted 1.29 percent, ending at 337.37 points.