Economy of Greece

Mid-caps and OPAP prop up benchmark

Rising stocks outnumbered those heading south on the local bourse on Thursday while the benchmark ended up virtually unchanged as early losses were offset by gains, mostly secured by outperforming mid-caps, as well as the OPAP gaming company, which is expected to profit on the World Cup that just started in Brazil.

IMF’s report sends local stocks lower

Declines on most European markets and Tuesday’s International Monetary Fund report demanding measures to plug Greece’s fiscal gap for 2015-16 resulted in significant losses for most stocks during most of Wednesday’s bourse session, although certain blue chips reacted in the last hour of trading and contained the benchmark drop to 1.18 percent.

'Virtuous circle' in economy

By Katerina Sokou

Poul Thomsen, the head of the International Monetary Fund’s mission to Greece, expressed on Tuesday confidence that the Greek economy will begin to recover this year, as the impressive fiscal adjustment and market confidence are creating «a virtuous circle."

OPAP’s Q1 profit beats forecasts

Gambling monopoly OPAP posted higher-than-expected quarterly profit due to a rise in sports betting and cost-cutting.

The company said first-quarter net profit rose 27.6 percent to 49.7 million euros, beating the average forecast of seven analysts in a Reuters poll of 44.5 million euros.

Sixth day of gains takes index above 1,200 points

The local bourse’s sixth consecutive day of gains, made on the strength of the balanced election results and a return to normality, took the benchmark above the 1,200-point level on Tuesday, with improved first-quarter results also playing a role. The Greek market had not seen six straight days of growth in over three months.