Ellaktor

Concerns over a possible expansion of the war in the Middle East, with the involvement of Iran, weighed on the Greek stock market, inflicting losses on the benchmark on Friday. Even so, the index narrowly maintained the 1,400-point level and got to close the week with net growth, with turnover also rebounding.

Concerns abroad about a delay in the start of interest rate reductions by the Fed in the US were partly offset by the positive corporate results that are being issued at the Greek stock market, thereby containing the decline on Thursday at Athinon Avenue for most stocks on the board. Nevertheless, the daily turnover was the lowest of the last 11 sessions.

The Greek stock market rebounded on Monday, following last week's decline, with most stocks securing significant gains, led by banks.

As a result the benchmark regained the 1,400-point level, ending the day not far from the session's high. The report by the Bank of Greece, which undercut the government's growth estimate, did not seem to affect the mood of the market.

Stocks went up, then down, and eventually - in the closing auctions - back up, during Thursday's session of the Greek bourse. Traders appeared reluctant to bring the benchmark closer to the 1,400-point level, as they obviously need a pretext for a solid recovery, following the recent decline.

Stocks continued their decline on Wednesday at the Greek stock market, led by banks, which had traders cashing in some of the last few weeks' gains. Turnover was significantly reduced compared to Tuesday. 

A short trading week of just three days has started at the Greek stock market with a moderate decline for the benchmark and the majority of stocks, though a number of blue chips responded to pressure and rebounded. Turnover also showed signs of significant recovery on Tuesday, after one more long weekend and ahead of another.

Motor Oil is close to the signing of a memorandum of cooperation that will provide for the acquisition of Ellaktor's subsidiary, Helector.

Negotiations between the two listed groups are at an advanced stage and the last steps to complete the agreement are expected to take place, barring unforeseen circumstances, in the near future.

The better-than-expected annual results of Coca-Cola HBC and the strong figures of Piraeus Bank gave strong momentum to Greek stocks on Wednesday, which combined with the positive mood across Europe led the ATHEX benchmark to a new 13-year high.

The sixth consecutive session of gains at the Greek stock market brought the benchmark not only to another 13-year high, but also above the 1,400-point mark, on significantly increased daily turnover too. All this was before the entry of the 300 million shares of Athens International Airport, which is scheduled for Wednesday.

The Greek stock market took another step higher on Friday, closing at a new 13-year high for the second day in a row, as the local bourse appears close to shaking off the entire impact of the financial crisis that started in 2010 in Greece.