The Greek bourse hit the ground running on the first trading day of 2021 on Monday, with prices growing as the session progressed and the closing auctions taking the benchmark above 820 points for the first time in almost 11 months. This time it was mainly energy stocks and other non-bank blue chips that led the index higher.
The TEMES Group, which belongs to the Konstantakopoulos family, has acquired majority stakes in two companies that are to develop two seafront hotel units and an extensive residential project on the site of the former Athens airport at Elliniko, following an agreement with Elliniko developer Lamda Development announced on Friday.
After a session of ups and downs, buyers retained the upper hand in the closing auctions at the Greek stock market on Friday and pushed the benchmark into the black after three consecutive days of losses.
The Athens Exchange (ATHEX) general index ended at 646.80 points, adding 0.29% to Thursday's 644.90 points. On a weekly basis it declined 5.36%.
The governing board of listed firm Lamda Development has decided to partially revise the allocation of the funds it raised in a recent 650-million-euro share capital increase.
It will now use €12.4 million to acquire a stake in Lamda Marinas Investments SMSA, the company that controls and manages Flisvos Marina at Palaio Faliro in southern Athens.
The upcoming rebalancing of the MSCI Greek stock indexes and profit taking after five consecutive days of gains led to losses at Athinon Avenue on Friday, with a huge daily turnover. Notably 70% of trading volume took placing during the closing auctions. The benchmark of the Athens stock market ended May with a monthly advance of 3.87%, though banks lost 2.94%.