Water supply and sanitation in Greece

Geopolitical concerns and US corporate results weighed on the Greek stock market on Thursday, but the benchmark at Athinon Avenue contained its losses toward the end of the session. This is mainly thanks to the flow of positive corporate developments within Greece in the aftermath of the country regaining investment grade.

The Greek stock market reacted after four consecutive sessions of decline to post significant gains on Tuesday, and on notable trading volume too. Traders appear to have taken for granted that DBRS Morningstar will this Friday restore Greece's investment grade rating, and if that does not materialize the bourse will likely take a nosedive as of Monday.

The upward trajectory of the Greek stock market continued for another day on Wednesday, with the increased turnover being the main feature of this fresh session of growth that led the benchmark to yet another nine-year high. The 2% advance of the banks index leaves no doubt about the day's protagonist, with Alpha leading the way up thanks to its favorable corporate results.

Amid international concern about the manufacturing index (PMI) in China, which points to a notable slowdown, stock markets in Europe showed their concern on Wednesday with prices sliding in their majority.

The last few minutes of the trading session at Athinon Avenue on Monday saw the main indexes swing from gains to losses - albeit marginal - primarily owing to the decline observed in foreign markets, especially at the opening of Wall Street. Traders appear to be waiting for local political developments as well as the outcome of the Turkish elections.

Wednesday's session at the Greek stock market bore a great resemblance to Tuesday's, only with significantly greater gains upon closing after the late rally that banks staged in the closing auctions. Once again the benchmark closed higher and the majority of stocks suffered losses, given also the drop recorded by mid-caps. The 1,100-point mark is now within reach for the main index.

The closing auctions turned things around at the Greek stock market on Tuesday, at the start of the trading week, offering the benchmark marginal gains despite the majority of stocks ending up in the red. International banking concerns appeared to have minimal impact on local credit sector stocks, while construction companies led the rebound.

After a very narrow session at the Greek stock market, with few fluctuations, the benchmark posted minor losses on Thursday, as the bourse appeared to be lacking clear direction, hence also the further reduction in turnover. Foreign pressures due to international concerns about the credit sector were offset by consecutive reports that praised the local market.

Thursday's bourse session at Athinon Avenue proved to be the second in a row with losses for most stocks, although in the closing auctions the main index contained its decline and the banks index actually swung into gains. Turnover dropped to the lowest level in almost two weeks, but Friday's session is expected to make up for it.

Athinon Avenue returned to action on Tuesday after a four-day recess and rewarded those anticipating its reopening with a wholesome session of growth that boosted the benchmark by over 1.7% and pushed daily turnover above 100 million euros. However, the main index once again proved not ready to clear the 1,100-point bar.