ECONOMY

Investors demand more consolidation

The Athens stock market reopens on Monday with its main index back under the 900-point mark after another session of losses on Friday that almost wiped out all of last Monday?s gains.

The ATHEX general index closed at 891.93 points last Friday, posting daily losses of 3.98 percent, but on a weekly basis it showed gains of 1.35 percent.

The euphoria from the planned merger of Eurobank with Alpha has not yet evaporated, but investors are waiting to see more merger and acquisition action before it is convinced that the local market is showing genuine signs of consolidation.

Greek stocks remain undervalued, observers stress, but investors need more to trigger a rising course for the index.