Eurobank Ergasias

ATHEX: Bourse reacts to four days of contraction

The Greek stock market reacted after four consecutive sessions of decline to post significant gains on Tuesday, and on notable trading volume too. Traders appear to have taken for granted that DBRS Morningstar will this Friday restore Greece's investment grade rating, and if that does not materialize the bourse will likely take a nosedive as of Monday.

Wargaming confirms decision to sell Hellenic Bank stake

Wargaming has announced its decision to sell its remaining stake of 6.8% (28,023,767 shares) in Hellenic Bank to Eurobank.

The deal is valued at 65.9 million euros, equivalent to €2.35 per share.

Eurobank Cyprus, the local subsidiary of Greece's Eurobank Group, will have a controlling share of over 50% in Hellenic, the second largest lender.

Wargaming to sell 6.8% stake in Hellenic Bank to Eurobank

Wargaming has announced its decision to sell its remaining stake of 6.8% (28,023,767 shares) in Hellenic Bank to Eurobank.

The deal is valued at €65.9 million, equivalent to €2.35 per share.

Eurobank Cyprus, the local subsidiary of Greece's Eurobank Group, will have a controlling share of over 50% in Hellenic, the second largest lender.

Businesses eager to pay back loans

Since the beginning of 2021, Greece's four biggest banks - Alpha, Eurobank, National and Piraeus - have lent businesses some €70 billion, and businesses, in turn, have paid back €55 billion from these or earlier loan.

The net credit expansion of €15 billion is considered low and there are worries that it may drop further in coming years.

Stocks slide after four days of gains

Greek stocks dropped slightly Wednesday after four sessions with cumulative gains of 1.90%. The general index closed at 1,316.94 points, a drop of 0.11%, although it was up 0.30% at one point.

Turnover was €95.54 million with 24,001,624 shares changing hands. Of the 120 shares traded, 43 rose, 61 declined and 16 ended unchanged.

Blue chips slipped 0.12% and mid-caps 0.37%.

Index stops just short of 1,300 points

The Athens Stock Exchange once again posted very slight gains, but at least the general index reversed four weeks of losses, posting a nearly 3% rise for the week.

The main index gained 0.30% Friday, closing at 1,299.76 points. Turnover was quite low, at €59.6 million. Blue chips gained 0.21% and small-caps 0.43%, while banks lost 0.98%.

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