GEK

Much as Public Power Corporation's stock jumped on Monday on the announcement of the government's plan to prop up Greece's main utility company, the stock market showed a mixed picture at the end of trading, with gainers outnumbering losers, while the benchmark slipped below 865 points.

The Greek stock market was no exception to the rule in most eurozone bourses on Monday, where investor skittishness resulted in moderate losses and low trading volumes. Local traders may also be waiting for today to position themselves in the new seven-year Greek bond.

Despite a decline among banks, the vast majority of stocks ended up on the winning side on Thursday, with the benchmark advancing for a second day in a row, albeit marginally this time.

Traders booked recent profits on Monday at Athinon Avenue, selling the confirmation of the government change in Athens, though the suspension of trading for the OPAP stock generated rumors and concerns about the course of one of Europe's biggest gaming companies.

Greek contractor GEK Terna said on Thursday it has teamed up with US casino operator Mohegan Gaming & Entertainment to bid to build a casino inside a planned 8-billion-euro tourist resort on the Athens coastline.

After a mixed session on Friday the benchmark at Athinon Avenue closed with weekly losses of just over 1 percent, seen more as a reaction to the massive growth of previous weeks than a result of the 5.46 percent weekly drop of the banks index and the problems plaguing power giant PPC.

The MSCI Standard Greece index rebalancing, with the return to its ranks of National Bank, and the continued euphoria from political developments in Athens saw the Greek bourse extend its gains on Tuesday and double Monday's daily turnover, as positive reviews from foreign firms and agencies poured in following the announcement of a snap election.

Coca-Cola HBC and National Bank suffered significant losses in Monday's bourse session at Athinon Avenue, which saw its benchmark begin the election week with a drop that is incongruous with the wait-and-see attitude usually adopted by investors during such periods.

The expansion in the presence of Greek construction groups still leaves a lot to be desired.

Amid considerable delays in the concession of new major contracts in the Greek market, the sector's companies are unable to get successfully involved in projects abroad as conditions remain difficult.

Most of the early growth in prices evaporated over the course of Friday's bourse session at Athinon Avenue. The benchmark managed to hold on to some gains before the closing bell, although stocks were split between winners and losers at the end of a week of net losses for the market.