Economy of Greece

The opening of the binding financial offers for 67% of Iraklio Port Authority had been scheduled for Thursday, but this is no longer expected to happen.

Both contenders have asked to examine the legalization documents of their competitor.

Their new deadline expires early next week, so it is likely that the financial bids will be unsealed at the board meeting next Thursday.

Investors unleashed a buying spree at the Greek stock market on Tuesday, after the three-day weekend, with the price growth gathering momentum as the session went along.

The management of Mytilineos Energy & Metal is pondering whether it should move its headquarters outside Greece, as the company grows and expands its activities in international markets.

Traders at the Greek stock market chose to cash in on some of their recent gains on Tuesday, with the main index at Athinon Avenue coming off Monday's nine-year high for some moderate losses for the majority of stocks, led by banks. Nevertheless, mid-caps bucked the trend and their index remained in positive territory.

European nationals are showing a huge interest this year in rural Greek realty, led by pensioners and those approaching retirement, estate agents have told Kathimerini, adding that they often make their acquisitions even before the completion of properties' construction.

The peaceful conclusion of the Turkish elections and of the debt limit standoff in the US allowed European stocks to recover and the Greek bourse to extend its recent gains on Monday. The benchmark at Athinon Avenue climbed to a new nine-year high and turnover was remarkable given the holiday in the US and the UK.

Stocks on the Greek bourse continued their impressive rally following last Sunday's election with another day of robust growth and turnover, taking the Athens benchmark to a new nine-year high on Friday. Adding to the momentum was the Motor Oil deal for the takeover of a solar energy company that brings it back into partnership with Public Power Corporation.

Unfazed by news of a German recession and a US credit default threat, the Greek stock market reverted to its upward trajectory on remarkable trading volume on Thursday, recapturing the 1,200-point level, with the help of growth in bank stocks. The universally positive first-quarter results of listed companies also contributed to the price growth.

Wednesday's recommendations by the European Commission signal a return to fiscal containment, in view of the adoption of a new Stability Pact, as they limit the increase in the so-called net primary costs of 2024 to 2.6% compared to 2023.

National Bank, the country's second-largest lender by market value, has posted a 28% drop in earnings for the first quarter on lower trading income and one-off items.

NBG, 40 percent-owned by the country's HFSF bank rescue fund, said net profit stood at 260 million euros in the first quarter, down from 360 million euros in the same period last year.