FTSE

Stocks on the Greek bourse enjoyed a rare respite on Tuesday after the pressure of the previous days, regaining some of the ground lost on the day of the US presidential election, with the benchmark all but recapturing the 1,400-point level, on significantly improved turnover too.

Athinon Avenue was unable to find a clear direction on Monday, and the week's first session ended with the benchmark virtually unchanged. Shrinking turnover revealed that most traders are holding their fire to see the results of the US presidential election and the two-day meeting of the Fed, both of them this week.

Banks almost single-handedly pushed the benchmark of the Greek bourse higher on Friday, as the other blue chips appeared rather weak on the day.

Coming off a near-three-month low on Wednesday, the Greek bourse tried to stage a reaction to its price decline on Thursday, but the effort appeared only half-hearted.

Sellers returned with a vengeance on Wednesday at the Greek stock market, following Tuesday's recovery of prices. Stocks took a tumbling, led by banks, in line with most other eurozone bourses that also suffer sudden losses on the day.

After an entire week of decline, stocks at the Greek bourse showed a significant rebound on Tuesday, not only in prices but also in transaction volume. The recovery of prices was to be expected but the market appeared to be losing steam toward the end of the session, with the benchmark managing to clear the 1,400-point bar but closing near the day's lows.

The Greek stock market completed an entire week of losses for its benchmark, with its fresh drop on Friday sending the main index below the 1,400-point mark and to lows unseen since August 9. The credit sector was once more at the forefront of sales, before the issue of the third-quarter results and as European concerns about the US election on November 5 increase.

Contrary to expectations for a rebound of stocks after three days of decline in a row, the Greek bourse remained on a southbound course on Thursday, with banks leading the way once again.

The Greek bourse recorded a third straight day of price decline on Wednesday, led by banks that suffered from the concerns reigning across Europe as the day of the US presidential election approaches and the prospect of a rapid decline in interest rates that could compromise banks' profits. Thursday will see the publication of the third-quarter data by Metlen.

Stocks suffered considerable losses at Athinon Avenue on Tuesday, with traders targeting specific blue chips, which had a knock-on effect on most other stocks. This was the biggest daily fall for the benchmark since early August.