Eurobank

The divestment of the Hellenic Financial Stability Fund from Eurobank has been postponed by a few days following the acquisition of Hellenic Bank, in an attempt to value the bank based on the new financial data.

Greek stocks suffered yet another slump on Thursday, with their losses growing as the day progressed, with floods in central Greece and the postponement of the prime minister's speech in Thessaloniki not helping stocks recover. Friday's DBRS Morningstar credit rating report on Greece could change all that.

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 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.

Eurobank Cyprus, the local subsidiary of the Eurobank Group with a presence in six countries, has acquired the 17% stake in Hellenic Bank held by Pimco to become the local lender's biggest shareholder, controlling 46.5% of its shares. 

The stock market could not hold on to early gains Wednesday after deteriorating Purchase Managers' Index (PMI) numbers soured the mood in European markets.

The general index closed at 1,293.73 points, down 0.52%, on a low turnover of €71.7 million. Blue chips dropped 0.61%, mid-caps 0.31% and banks 0.15%

A favorable climate in European markets and investor interest in banks and several blue chips helped the Athens Stock Exchange return to the 1,300-point level on Tuesday.

Despite some selling towards the end, the general index gained 1.18% to close at 1,300.47 points on turnover of €92.9 million. Blue chips gained 1.34%, mid-caps 0.96% and banks 1.77%.

The aggressive selling of banks and other blue chips initially led the Athens stock market to lose as much as 1.8%. In the end, the general index ended up at 1,278.87 points, limiting its losses to 0.62%.

Blue chips lost 0.64%, mid-caps 0.50% and banks 1.19%, after being down as much as 3%.

The vast majority of Greek stocks ended Thursday's trading session with gains, but some non-bank blue chips held the benchmark back from hitting a new nine-year high and the 1,350-point level, which remains elusive for now. The positive messages from the US Fed and the European Central Bank create a favorable climate for further price growth in the coming days, analysts note.

Eurobank won shareholder approval on Thursday to buy back the 1.4% stake in the group held by Greece's bank bailout fund, a move that would end state participation in the country's largest lender.