Coca - Cola HBC

The Greek stock market enjoyed a day of solid gains on Thursday, with banks and Coca-Cola recording considerable growth and trading volume confirming that Athinon Avenue enjoyed wider investor interest than usual. Thursday's growth added a remarkable 1.2 billion euros to the bourse's capitalization.

Non-bank blue chips led Greek stocks in a moderate advanceon Wednesday, while banks swung both ways before settling for minor gains at the end of the session, with rising stocks outnumbering the losers.

The Brexit limbo that affected most eurozone stock markets on Wednesday was largely offset in Athens by optimism in the local credit sector and the continued decline of Greek bond yields, leaving the main index at Athinon Avenue largely unchanged, while the banks index climbed to levels unseen in 14 months.

The bottling company Coca-Cola HBK Bulgaria officially opened the expansion of its production base in Kostinbrod, which includes a new production line and additional storage area. The investment in the project amounts to EUR 20 million or BGN 40 million, which was announced two years ago.

Since its inception in 1992, Coca-Cola HBC Bulgaria has been one of the major economic drivers in the country. With over 2,300 employees, two production plants, in Kostinbrod (soft drinks) and in Bankia (mineral water), seven distribution centers and BGN 84 million in taxes and fees paid to the government budget in 2018, the company continues to be a key contributor to the local economy.

PPC and bank stocks kept the benchmark afloat for a seventh straight day on Thursday, taking it to a 53-month high, with high turnover despite the US Independence Day holiday.

Coca-Cola HBC and National Bank suffered significant losses in Monday's bourse session at Athinon Avenue, which saw its benchmark begin the election week with a drop that is incongruous with the wait-and-see attitude usually adopted by investors during such periods.

Warnings from the Bank of Greece and Goldman Sachs over the course of the Greek economy, not to mention international concerns on foreign markets over the raging trade war, led on Wednesday to the complete erasure of the gains recorded by the Athinon Avenue benchmark on Tuesday.

The Greek stock market remained split between winners and losers on Wednesday, with blue chips enjoying a day of gains and mid-caps suffering mild losses while turnover remained at a satisfactory level. It appears the market is now awaiting Standard & Poor's verdict on Greece in 15 days' time.

Bank stocks' recent gains were bound to lead to profit taking at some point. That point came on Thursday, but barely affected the rest of the market, as mid-caps and small-caps headed higher to split the board between winners and losers.