GEK Terna

Much as traders appeared eager to cash in Wednesday's stock gains, Athinon Avenue reversed its losses and ended Thursday's session on a new 13-year high for its benchmark, supported by key blue chips such as Eurobank and Public Power Corporation. Winners and losers on the day ended up in a dead heat. Turnover continued to grow.

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.

March proved to be the first month of decline - albeit marginal - after four months of growth for the benchmark of the Greek stock market, which dropped just 0.17% from end-February. In the last session of the local bourse ahead of the four-day recess, most stocks posted gains despite the decline of the banks index.

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.

The Greek stock market rebounded on Wednesday, driven mainly by Piraeus Bank and other lenders, but the daily turnover showed a significant decrease from the previous days, which is partly explained by the simultaneous reopening of a state bond.

The March triple witching sent the bourse's turnover soaring to over 350 million euros on Friday, while the benchmark grabbed some more ground, all but offsetting the major losses it had suffered on Monday. That meant the week closed with small losses, for the first time after seven weeks of growth.

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 benchmark of the Greek stock market on Wednesday recovered some more of the ground it had lost on Monday, but narrowly missed out on retopping 1,400 points. Turnover remained high for another day as the local bourse edges month after month closer to being readmitted to the group of developed markets.

The placements of Greek listed companies have proven a goldmine for investors, who enjoy profits of over 30% in a very short period of time.