ADMIE

Athinon Avenue continued to record gains on Tuesday, with the benchmark edging up to a fresh 13-month high, while turnover exceeded 100 million euros again.

The Athens Exchange (ATHEX) general index closed at 845.95 points, adding 0.38 percent to Monday's 842.76 points. The large-cap FTSE-25 index expanded 0.37 percent to end at 2,160.05 points.

The Greek stock market's usual buying targets - i.e. banks and Public Power Corporation - secured considerable gains at the start of the week, taking the benchmark to a new 13-month high as the market displayed its excitement at the formal announcement of a snap general election.

The stock market braved its early losses and the drops on most other European bourses to revert to gains by the closing bell on Friday and see its benchmark register monthly gains of 7.37 percent in May. Public Power Corporation and banks led the price rebound, with turnover topping 150 million euros, as the positive momentum that started last Monday continued.

Greek electricity grid operator ADMIE on Friday launched two tenders to build two undersea cables linking the island of Crete to the mainland, the energy ministry said.

The 915 million euro ($1 billion) project will be completed by 2022, the ministry said.

Greek grid operator ADMIE on Friday launched two tenders to build two undersea cables linking the island of Crete to mainland Attica, the Energy Ministry said.

The 915 million-euro project will be completed within 2022, the ministry said.

The landmark electricity interconnection of Crete with Attica is proceeding in a vague regulatory framework with unknown consequences for the future.

Greece's unilateral decision to remove the Crete-Attica power linkup from the European Union's list of projects of common interest (PCI) and instead implement it as a national project will lead to a delay of at least six months in the project.

Concerns from Crete's Deputy Regional Governor Nikos Kalogeris of blackouts this summer put a damper on Thursday's ceremony by the Independent Power Transmission Operator (ADMIE) and the European Investment Bank at the Energy Ministry for the signing of the so-called "small interconnection" linking Crete with the Peloponnese, which is different to the planned Crete-Attica linkup.

Greece moved closer to cutting Crete's reliance on oil to generate power on Thursday as grid operator ADMIE signed a 178 million euro ($200 million) European Investment Bank loan to partly fund undersea cables to the mainland.

Traders continued to sell Greek stocks on Thursday as conflicting statements from officials on the local economy and an adverse international environment kept up the pressure on local stock prices. Even so, both the indexes and the prices managed to rise above the day's low by closing time.