Folli Follie

Following the trend set by global markets since late on Tuesday, buyers in Athens took advantage of the benchmark's three-day decline on Wedneday, allowing Greek stocks to recover some lost ground. However, trading volume was considerably lower than in the last few sessions.

Wednesday's sixth consecutive session of gains for the benchmark of the Athens stock market took it to a new three-month high, on respectable turnover and significant gains for the majority of blue chips, including banks.

The benchmark of the Greek bourse posted a decline for a third session in a row on Wednesday despite the slight rise of the banks index and the healthy gains of small-caps. The local market apparently does not share the optimism of debt traders who sent bond and treasury-bill yields even lower on Wednesday.

Stock prices at Athinon Avenue remained on a rising course on Wednesday, albeit at a slower pace than Tuesday. Banks again led the way in growth and trading activity, with the four systemic lenders accounting for 57 percent of turnover.

The sixth consecutive week of losses ended on the Greek bourse yesterday with a mixed performance on Friday. The benchmark had not seen six straight weeks of decline in three years.

The Athens Exchange (ATHEX) general index closed at 745.55 points, adding 0.10 percent to Thursday's 744.80 points. On a weekly basis it slumped 1.33 percent.

The first half of the year has just ended with the main index of the Athens stock market adding a remarkable 27.98 percent in that period, thanks to five consecutive months of growth (unseen since late 2013) capped by a 6.26 percent rise in June.

The Greek bourse continued to slide on Wednesday, led by bank stocks and Public Power Corporation, with traders waiting to see how the new round of negotiations with the country's creditors goes ahead of next week's Eurogroup, as demostrated by another day of low turnover.

Featuring the lowest daily turnover in the last 20 sessions, the Greek stock market edged higher on Friday, managing to close at the day's high thanks to some positive corporate news for smaller firms such as Galaxidi Marine Farm and Boutaris.

Stocks on the Athens bourse had a rather quiet start to the week on Tuesday, the same day that talks resumed on the second bailout review, with expectations remaining low for now. Trading volume only increased somewhat during the closing auctions.

The Athens Exchange (ATHEX) general index closed at 645.88 points, adding 0.08 percent to Friday's 645.37 points.

After the excitement witnessed at the Greek bourse on Friday, Monday's trade in Athens returned to a level better suited to mid-August than the end of September, as early gains evaporated and the benchmark ended close to the day's low, while trading volume dropped back below 30 million euros. The association of bourse investors is even considering calling for a reduction in trading hours.