Public Power Corporation
OpenCalais Metadata: Ticker
October was another month of growth for the main index of the Greek bourse, leading to gains of 1.63 percent. Almost half of that growth came through Thursday's advance, which was once again led by bank stocks. Meager though the monthly growth may seem, it has taken the benchmark's gains since the start of the year to almost 44 percent.
Nearly 1,500 applications to settle debts to Greece's power utility have been filed daily since October 1, which is when the new debt installments plan went live online and also became available by telephone, sources in Public Power Corporation (PPC) reported on Monday.
The new repayment plan includes more installments and lower initial installment rates.
Greek stocks held their ground on Monday as early losses gave way to a late surge that offset the selling action and left the benchmark virtually unchanged at the beginning of the trading week. The low turnover pointed to the wait-and-see stance adopted by larger portfolios, while bond yields have started to edge higher.
The banks index at Athinon Avenue enjoyed a second consecutive day of gains in excess of 4 percent on Friday, building not only on the advance of the Heracles plan for the securitization of bad loans, but also on the upward momentum observed in foreign stock markets. That also led to the benchmark attaining growth just shy of 2 percent.