FTSE

The benchmark of the Greek stock market came off Thursday's 13-year-high to record moderate losses on Friday at the end of another week of price growth, the third in succession. The continued rise of foreign bourses, including Wall Street, has helped. As of Monday the main index at Athinon Avenue will incorporate Athens International Airport.

Greek stocks recovered after Wednesday's respite, with the benchmark rising to yet another 13-year high on Thursday, thanks mostly to the growth recorded by a few blue chips and by mid-caps.

After six sessions of gains in a row for the benchmark, which took it to a 13-year high, the Greek stock market endured moderate losses on Wednesday, in spite of the spectacular entry of Athens International Airport.

The sixth consecutive session of gains at the Greek stock market brought the benchmark not only to another 13-year high, but also above the 1,400-point mark, on significantly increased daily turnover too. All this was before the entry of the 300 million shares of Athens International Airport, which is scheduled for Wednesday.

The banks index took the lead in Monday's bourse session at Athinon Avenue and took the benchmark to a new 13-year high, close to the 1,400-point landmark. Traders appear convinced that the Greek stock market is about to return to the group of advanced bourses, so they insist on expanding their exposure in it starting from its biggest companies.

The Greek stock market took another step higher on Friday, closing at a new 13-year high for the second day in a row, as the local bourse appears close to shaking off the entire impact of the financial crisis that started in 2010 in Greece.

The performance of the Greek stock market has got everyone reaching for their record books, as the benchmark at Athinon Avenue climbed to its highest point since May 2011 on Thursday. Banks were again the driver of growth, while some blue chips that have recently recorded major gains experienced some profit-taking at the start of the new month.

January ended with a new 10-year high for the Greek stock market benchmark, which also posted monthly growth of 5.82%. Going from strength to strength, the Athens bourse saw prices rise for a third month in succession, while trading volume is also showing signs of health.

Despite the attention the new 10-year bond issue garnered on Tuesday, the index and the trading volume rebounded at Athinon Avenue, driven by the growth of Piraeus Bank, which reached a new high. The momentum remains positive at the Greek bourse and, despite the temporary ups and downs, the underlying trend points to significant gains for the year that is now one month old.

Monday's stock session followed the course of the Greek weather, with a steady decline in prices matching the drop in temperatures. The benchmark narrowly managed to stay above the 1,350-point level, mainly thanks to the activity of some buyers in selected blue chips, while the prospect of the Athens International Airport listing absorbed some of the market's liquidity.