Cenergy Holdings

Sellers ruled the roost once again at the Greek bourse on Monday, with the benchmark heading lower for the third day in a row. The ejection of former prime minister Antonis Samaras from ruling New Democracy and the permission Washington has apparently granted to Kyiv for using long-range missiles to hit Russia combined to apply fresh pressure on stock prices.

The rising sequence of five sessions came to an end for the benchmark of the Greek bourse on Thursday, though only by the smallest of margins. There were conflicting trends in the session, switching the course of the main index from positive to negative and back several times.

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.

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.

The Greek stock market again showed its inability to set “mounds”, with sellers maintaining the lead for a fifth consecutive day. In addition, the previously 1,400 support point turned into resistance. Apart from banks – the familiar negative protagonist – the energy sector also exerted strong pressure on the board.

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.

Exposed to international pressures and lack of liquidity on a domestic basis, the Greek stock market remained in downward territory for the third consecutive day. Banks were again at the center of the liquidation, while few securities “escaped” with profits.

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.