GEK Terna

The expected approval of a 1-billion-euro disbursement to Athens by Friday's Eurogroup, after Wednesday's favorable European Commission report, secured further gains for the majority of stocks at Athinon Avenue, which was accompanied by the continuing decline of Greek bond yields. The stock benchmark climbed to its highest level in almost eight months, just short of 750 points.

The Athens stock market managed to remain on a rising course on Tuesday, on presentable trading volume, although stocks painted a mixed picture and the banks index headed lower. Traders were very selective, opting to cash in recent bank stock gains while buying into other blue chips and mid-caps.

The Greek bourse benchmark rose 1.96 percent over the month of March, taking the growth of the main index in the first quarter of the year to 17.62 percent.

The Athens Exchange (ATHEX) general index ended at 721.37 points on Friday, adding 1.08 percent to Thursday's 713.66 points. On a weekly basis it advanced 1.85 percent.

Dutch investment fund Reggeborgh Invest is evolving into a strategic investor in GEK Terna, as it was announced on Thursday that it will acquire - in two stages - York Capital Management's entire holding in the Greek construction group, which amounts to 17.3 percent.

Another mixed day at the Greek bourse on Thursday saw the majority of stocks head south while most main indexes ended up with gains in a session of increased trading volume thanks to several prearranged transactions.

After five days of gains and the buying fatigue recorded late on Monday, stocks at Athinon Avenue recorded notable losses on Tuesday, bucking the trend seen on other eurozone markets, with turnover remaining low. The next couple of days will determine the direction of the market up to the end of the month.

The bond issue clearly stole the limelight away from the local bourse on Tuesday, with investors focusing on the course of the 10-year note instead of buying Greek stocks, and sellers sending the benchmark back below 700 points.

The prospects of a Greek 10-year bond issue and a new tender for the sale of four coal-fired plants owned by Public Power Corporation saw the Athens bourse benchmark hit a new five-month high on Tuesday. Blue chips rose despite the marginal drop for the banks index and the decline in turnover.

The benchmark of the Greek stock market recorded a new four-month high on Thursday thanks primarily to the advance by bank stocks, which continued to rise as a solution concerning the protection of debtors' main residences appears to be near.

Greece on Thursday signed a concession allowing a Greek-Indian consortium to build a new airport on Crete, its biggest island.