European markets are heading for a fourth consecutive session of gains, with support from Wall Street, for the reasons we briefly outlined in our pre-market commentary.
S&P 500 futures were 0.42% lower, while the main indices in Frankfurt and London rose as inflows into stocks in key sectors continued.
The DAX stood at 26,973, up 1.11%, and was 2.46% higher for the week. The CAC 40 was at 8,387, up 0.68%, and had also gained 1.71% over the same period.
The EuroStoxx Banks index stood at 301.38, up 0.13%, taking its gain for the week to 3.62%.
With European bank stocks on an upward trend, the week was set to unfold in much the same way on the Greek stock market.
Steady inflows since the start of the week, mainly into shares of the four systemic banks, have lifted the banking index towards 3,250 points. Its gain for the week now stands at 3.43%.
Even before the opening, it was clear that some investors wanted to lock in part of their gains in bank stocks. They were probably shorter-term investors, which is why initial trades went through at 3,270 before the index eased towards 3,244 over the first half-hour.
Bank stocks traded 1.55 million shares, out of a total of 2.3 million, with turnover of €19.2 million, including €1.99 million in pre-arranged trades.
Order flow was moderate at the open, but picked up in some large-cap stocks. The FTSE 25 stood at 6,814, down 0.14%, as sellers outnumbered buyers in several constituents.
Trading in Jumbo shares increased, with the stock down as much as 2.18% at €27.72. A stockbroker attributed the selling to the latest developments concerning the prospect of Action entering the Greek market.
Trading was again particularly active in Piraeus shares, for a fourth consecutive session. Orders ranged from €10.16 to €10.335.
PPC shares ranked second by trading activity, following two block trades involving 38,400 and 19,000 shares at €22.39 and €22.40, respectively. Two further blocks in PPC were also shown for execution at 11:15.
Trading in ElvalHalcor shares was also relatively high, with buying activity particularly notable. The stock rose as much as 3.90% to €3.595, following its inclusion in the MSCI Small Cap index, replacing Autohellas.
Shortly after 11:15, 47 stocks were up and 36 were down.