FTSE

The gloomy outlook regarding the second bailout review resulted in stocks heading south in thin trade on Monday, with particularly low market expectations about the International Monetary Fund's board meeting that started long after the bell rang at Athinon Avenue.

Traders in Athens on Friday appeared to be holding back to see whether Greece's bailout review will be accelerated or postponed until later this year (at the expense of the local economy). Trading volume was less than 30 million euros and no significant moves or changes were observed.

Hopes cultivated by reports that a solution will be found between Athens and its creditors gave local stocks a small push on Thursday.

The Athens Exchange (ATHEX) general index closed at 623.06 points, adding 0.65 percent to Wednesday's 619.05 points.

After three sessions with total benchmark losses of 7.4 percent, the Greek stock market headed north on Wednesday, although this was due to buyers taking advantage of the drop in prices rather than any significant fiscal or corporate developments. The rise in trading volume was quite encouraging.

Buyers expecting to see Greek stock prices rise on Tuesday after two sessions of major losses were sorely disappointed. The benchmark and the majority of stocks ended lower, while Greek bond prices also dropped.

The Athens Exchange (ATHEX) general index ended at 611.75 points, shedding 0.38 percent from Monday's 614.08 points. On a monthly basis it gave up 4.95 percent.

The selling spree that began at the Greek stock exchange on Friday, due to fears generated by Thursday's Eurogroup, continued on Monday, boosted by Moody's description of the delay in the bailout review as a "credit negative" event for Greek banks.

There was no hiding investors' disappointment on Friday following Thursday's Eurogroup, after which the distance between Athens and its creditors appeared to stretch wider. Greek stocks took a dive, reversing all of the gains the benchmark had recorded during the week.

The majority of Greek stocks posted gains on Thursday, in anticipation of positive news from the Eurogroup meeting in Brussels. The optimism, however, did not extend to banks.

The Athens Exchange (ATHEX) general index ended at 660.59 points, adding 0.21 percent to Wednesday's 659.19 points.

Bank stocks powered the Greek bourse higher on Wednesday, with reports about a possible end to the bailout review saga by late February boosting short- and medium-term market confidence. Trading volume was the highest recorded this month.

The European Stability Mechanism's decision to unfreeze short-term debt lightening measures for Greece, and the seven consecutive sessions of decline for the banks index fueled a significant upturn on Tuesday both in stock prices and turnover.