GEK

This time the bulk of stocks at Athinon Avenue produced a strong reaction on Thursday to the decline of previous days, unlike the weak rebound of Wednesday. The main index reversed a significant portion of its recent losses, even if banks did fail to impress with their recovery on the day.

Lamda Development announced on Tuesday the signing of the definitive agreement with the Brook Lane investment firm for the establishment of the Ellinikon Park Tower company, which will be the vehicle for the development of another tower at Elliniko.

It is a mixed-use property with an estimated investment above 500 million euros.

Another costly chapter in the lengthy and tumultuous history of state mining company Larco has been added by the liquidation project to find an investor.

A late rally at Athinon Avenue gave the benchmark of the Greek bourse fresh momentum on Thursday, allowing it to easily surpass the 1,400-point barrier and close the day on a high. Non-bank blue chips outperformed, boosting a market that continues to have very high daily turnover levels since the placement of Piraeus Bank shares last week.

The seventh consecutive week of gains for the benchmark of the Greek stock market closed on Friday with a mixed session that saw rising stocks edge out losers by the narrowest of margins. The corporate results published in the current period also played a part, sending each stock concerned in different directions.

Stocks were evenly split between winners and losers at Wednesday's session in the Greek bourse, though the benchmark recovered half of the ground it had lost on Tuesday, all in the context of the completion of Piraeus Bank's share placement. This has absorbed a significant portion of the market's liquidity, not only this week but also in the previous couple of weeks.

Stocks at the Greek stock market continued their mild decline on Wednesday for a second session in a row, with a number of blue chips posting a decline and only a few resisting the pressure that could have brought the benchmark below the 1,400-point mark. The week continues in a quiet mode ahead of next week's expected placement of the state's 27% holding in Piraeus Bank.

The main index of the Greek bourse advanced for the fifth week in a row, despite the moderate losses suffered on Friday in what was a rather quiet session. Observers note that traders may be waiting for corporate moves and the placement of the state's 27% stake in Piraeus Bank, so they are saving their strength for now.

The negotiations between the GEK Terna group and investment funds of Arab interests, which are now in the driver's seat for the acquisition of Terna Energy, are on a good track, Kathimerini understands.

The concession of the Egnatia Odos highway to GEK Terna for a period of 40 years is expected to be completed in March.