GEK Terna

World markets were upbeat on Tuesday, following the announcement of bolstering measures by the central banks of the US and Japan, while expectations for an economic rebound starting in the second half of the year added to global stocks' upward swing. In Greece, Athinon Avenue enjoyed a day of significant gains that rose over the course of the day across the board.

Greece's privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country's dominant gas supplier, DEPA Commercial.

The Fed's {decision on Wednesday to hold the key US interest rates unchanged inflicted losses on most European stock markets on Thursday; the Greek bourse followed suit, with its benchmark heading south for the third day in a row, on the lowest daily turnover in 11 sessions.

Listed group GEK Terna aims to complete the issue process for a seven-year bond up to 500 million euros by early July.
The revival of the economy has allowed for the reactivation of these plans that are considered essential for the implementation of the investment program for the coming years, concerning renewable energy sources and the construction of the new Iraklio airport.

Bank stocks continued their advance on Tuesday, while investor attention was focused on the benchmark bond issue, but non-banking stocks dragged the main index lower at the start of this four-day trading week at Athinon Avenue.

Bank stocks were back in the driving seat at Athinon Avenue on Wednesday, taking the Greek bourse benchmark to a new three-month high - i.e. its highest since the coronavirus epidemic began in Greece. The 700-point milestone seems to be growing closer, while investors appear to have plenty of disposable cash.

The various channels of liquidity that central banks the world over are offering to markets have boosted prices on the majority of international bourses. Athinon Avenue happily rode the buyers' wave on Tuesday, with interest focusing almost exclusively on blue chips.

The benchmark of the Greek stock market now has the 700-point level in its sights after its sixth day of gains in seven sessions. Construction blue chips led the way this time.

The Athens Exchange (ATHEX) general index ended at 658.35 points, adding 0.88% to Friday's 652.58 points. The large-cap FTSE 25 index expanded 0.52% to 1,579.70 points, while mid-caps contracted 0.25%.

Early profit-taking at Athinon Avenue gave way to a fresh wave of buying later on Thursday - although banks appeared to have fallen out of favor - taking the benchmark higher for the fifth session in a row. The market is now confidently looking toward more growth, boosted also by the significant increase in daily trading volumes.

Banking and energy stocks boosted the Greek bourse on the last day of this week, although the benchmark ended up holding onto just a fraction of the gains it had recorded before the closing auctions. Even so its consolidation well above the 600-point mark is a positive omen ahead of next week.