TERNA Energy

The US Fed and European Central Bank rate hikes went largely according to expectations, so eurozone stock markets, including Greece's, proceeded smoothly on Thursday with sessions of mild gains.

January ended at the Greek stock market with 10.01% growth for the main index, after it suffered a minor decline on Tuesday in a mixed session. While some fellow eurozone bourses took heavier losses on the day, Athinon Avenue saw its expected profit-taking to be small and targeted, while banks enjoyed another day of price gains.

Greek stocks maintained their growth momentum for another day on Tuesday, despite the attention the issue of the 10-year sovereign bond commanded, with the main index climbing to another eight-year high. Even when European bourses headed lower and some traders indulged in profit-taking, buyers retained the upper hand, with the benchmark edging ever closer to 1,000 points.

The benchmark of the Greek stock market may have seen its rising streak snap on Tuesday, but that was only marginally, as its decline was negligible and the overall course appears unchanged, despite the minor profit taking on the day. The maintenance of turnover at a relatively high level also bodes well for the next few sessions.

Russia's latest "game" with natural gas is causing serious turmoil in the Greek stock market, which is currently moving with significant losses. In particular, the general index is falling by 1.55% to 924.35 points, with a turnover of more than 15 million euros.

The Greek stock market is currently doing balance exercises around 890 points, which is unable to change level as the majority of portfolios remain on hold. In particular, the general index is moving with gains of 0.25% at 893., 66 points.

Despite the significant decline of the banks index, other stocks at Athinon Avenue welcomed back buyers on Wednesday, with trading volume remaining just above the 50-million-euro mark after the MSCI index restructuring produced no surprises for listed companies. A bank rebound could fuel a further rise over the rest of the week.

The prospect of a new Attica lockdown sent the Greek bourse tumbling on Tuesday, with severe losses for banks and the majority of other stocks also heading south, erasing the gains of previous days. All but two blue chips headed lower, but the decline is seen as temporary and not structural.

Athinon Avenue gave up 7.36% over the month of January after another day of losses on Friday for the benchmark and the majority of stocks. The prospect of tighter restrictions and concerns over when the economy will start to recover continued to put pressure on prices.

Work begins on Saturday on the new waste management system in the Peloponnese, the biggest of its kind in Greece.

Friday will see the signing of the concession agreement, granting Terna Energy the rights to start operating the system managing the waste of Corinthia, Arcadia, Argolida, Messinia and Lakonia in 10 months' time.