Eurobank

The Greek bourse began the week with mixed results at the end of the session as investors await the resumption of the bailout review. Stocks were split between winners and losers, but the benchmark was up at the close, having recovered all the day's losses in the closing auctions.

The drop that most Greek stocks posted on Friday after four days of growth took the main index back to where it was at Wednesday's close, though both the benchmark and the banks indices chalked up significant gains over the week, rising 4.26 percent and 9.84 percent respectively.

National Bank of Greece aims to have the binding bids for the sale of its subsidiary Ethniki Insurance within the first quarter of 2017. According to the group's commitment in its restructuring plan, the sale must take place in the first half of next year, but bank sources say the process will begin in January.

Hopes that an agreement to ease Greece's debt can be reached in the next few weeks led to the Greek bourse chalking up respectable gains at the end of Monday's session, with the banks index advancing by 2.99 percent.

National Bank (NBG) has hired Goldman Sachs and Morgan Stanley as advisers on the sale of a stake in its insurance subsidiary Ethniki Insurance, banking sources close to the procedure said on Thursday.

Founded in 1891, Ethniki Insurance is the oldest insurer in Greece and is fully owned by NBG.

Nonperforming exposures (NPEs) of Greek banks will have to be reduced by 40.2 billion euros in the next three years, while bad loans (that do not include arranged debts) must go down by 38.1 billion, according to a report issued on Wednesday by the Bank of Greece.

Blue chips on the Greek stock exchange all but covered the losses sustained in Monday's session on Tuesday, as, after a declining start, the benchmark rebounded to close above 610 points.

Growing uncertainty over the outcome of the second bailout review and a Kathimerini report about the possibility that Greeks will be asked to pay a tax on cash withdrawals led to a significant drop in stock prices on Monday at Athinon Avenue, with bank stocks leading the way.

The majority of Greek stocks headed south at the end of the bourse benchmark's third consecutive week of gains, although blue chips and mid-caps edged up on increased turnover. Monday's Euro Working Group is likely to give the market a good taste of what is to come next week.

Investors cashed in some of the gains chalked up over six consecutive sessions of growth for local stocks, sending the benchmark into negative territory on Thursday.

The Athens Exchange (ATHEX) general index closed at 623.63 points, shedding 1.41 percent from Wednesday's 632.51 points. The large-cap FTSE 25 index fell 1.94 percent to 1,682.02 points.