Hopes for greater rebound on bourse

After a period of decline that saw the Athens bourse’s general index nearing the 3,100-point level, Greek stocks staged an impressive rebound on Thursday and Friday to end the week with some much-needed gains. The Athens Exchange (ATHEX) general index closed the week at 3,406.76 points, up by 3.53 percent from the previous week’s close of 3290.74 points. It is fairly clear that the local market is heavily dependent on the fluctuations on Wall Street, therefore the new optimism that has been seen across the Atlantic has major significance for the mood in Athens at the start of the week. Observers believe stocks can maintain their positive momentum and may regain some of the ground they have lost in the first half of 2008, in what is seen as something more than a mere correction.