FTSE

Stocks slid somewhat at the Greek bourse on Thursday, one day before the end of the trading year, with the benchmark closing near the day's low, which points to the appetite for some more profit-taking on Friday. The session started with gains over the first hour before sellers took the upper hand, leading the majority of stocks into the red.

The year's final week started for the Greek stock market on Wednesday with a slight increase for the main index, mainly thanks to the growth of National Bank stock that also led to the banks index posting significant gains on the day. As things stand, the benchmark is heading for an annual growth rate of 40% for the entire year.

The stock market at Athinon Avenue closed for Christmas with losses for most stocks on Friday, as traders engaged in more profit-taking, which hit banks hardest. This wiped out almost all of the week's gains for the benchmark, with a relatively increased daily turnover, three sessions before the end of the year.

As Christmas approaches, the action is slowing down at the Greek stock market, with the turnover dropping further on Thursday and the benchmark coming off Wednesday's 16-week high to settle for a point and a half below the 1,300 mark. Yet with five sessions left till the end of the December, 2023 is certain to be another particularly positive year for Athinon Avenue.

Wednesday's mixed session at the Greek stock market may have seen the majority of stocks (including banks) decline and the daily turnover revert to more subdued seasonal levels, but the benchmark continued its ascent for a second straight day to climb to levels unseen in 16 weeks, above the 1,300-point mark.

Athinon Avenue returned to its rising course on Tuesday, with the benchmark climbing to a new 15-week high, on the verge of 1,300 points. Banks - especially Eurobank - outperformed, and alongside some other key blue chips lifted the main index to its highest point since September 1.

The first day of the last week before Christmas started at the Greek stock market with a mixed session, that saw the benchmark and the majority of stocks post losses while mid-caps and banks eased the pressure on the main index. Turnover reverted to the typical level of this month, with traders mostly focusing on profit-taking.

The targeted profit-taking, the December "triple witching" and the FTSE index rebalancing led to a significant increase in turnover on Friday, which appears to be the exception in a significantly quiet month. Most stocks headed lower, with the benchmark coming off a 14-week high, though mid-caps headed higher.

The benchmark of the Greek stock market on Thursday built on the gains recorded in previous sessions to rise to another 14-week high, very close to the 1,300-point level, that it temporarily surmounted. The rotation of stocks in focus continued, as in this case it was non-banking blue chips and mid-caps that drew most of the buyers' attention.

The Greek stock market on Wednesday repeated its ascent of Tuesday, climbing to yet another 14-week high based on the second consecutive day of advance by banks.