Eurobank

The European Investment Fund (EIF) signed a deal on Monday to provide Greece's Eurobank with 230 million euros of loan guarantees to support small and medium-sized businesses and help the economy.

Action at the Greek bourse was focused on the message from the European Central Bank Governing Council meeting on Thursday, mainly to the benefit of bank stocks.

The Athens Exchange (ATHEX) general index closed at 595.90 points, adding 0.49 percent to Wednesday's 593.02 points. The large-cap FTSE 25 index rose 0.50 percent to end at 1,581.75 points.

After Tuesday's healthy gains, it was back to the old routine for Greek stocks on Wednesday, with a mixed picture among blue chips and trading volume slipping back below the 30-million-euro level.

Eurobank will start the process for the takeover of six hotel companies with nine units after the end of the tourism season, as, between them, they owe 130 million euros to the lender that now comprises nonperforming loans.

The benchmark on the Greek bourse on Wednesday edged up for a fourth straight day to reach levels unseen since the British referendum on its departure from the European Union on June 23. Yet a drop among small-caps meant that the majority of stocks in the market registered losses and trading volume returned to below 30 million euros, as traders remain in search of a new direction.

Greek stocks had a mixed day on Tuesday as banks and small-caps declined while mid-caps and the majority of blue chips enjoyed gains, a day after a worse-than-expected result from the Eurogroup meeting in Luxembourg.

International market euphoria over the rise of oil prices to a year-high, coupled with domestic certainty over the disbursement of the long-overdue bailout sub-tranche brought gains of over 1 percent to the Greek bourse's benchmark on Monday.

The reserved optimism coming from Brussels about a decision on Monday in favor of the disbursement of the long-anticipated bailout tranche of 2.8 billion euros helped the Greek stock market register small gains on Friday, led as usual by bank stocks.

The Bank of Greece has submitted a request to the European Commission's Directorate-General for Competition for Attica Bank to draw cash from the emergency liquidity assistance (ELA) mechanism through the issue of Greek state bonds that will be used as collateral.

The Greek bourse moved in line with the majority of eurozone markets on Wednesday, posting a mild correction after two sessions of gains for most of its stocks. Turnover dropped again as traders await the outcome of this weekend's annual meeting of the International Monetary Fund and Monday's Eurogroup.