GEK Terna

Greek stocks showed little movement on Monday, with the benchmark and the mid-caps edging higher while banks posted a decline, on a day of significantly reduced turnover. Rising stocks narrowly outnumbered those which declined, with the market hoping for corporate news that would give it some direction.

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 Greek stock market managed on Tuesday to maintain the gains its had secured on Monday and added some more for its benchmark, which climbed to yet another 13-year record high, even though the mid-cap index and the majority of stocks headed south. The local bourse continues to show resilience and is expected to continue down the same path for the next few weeks at least.

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

The US inflation data shook European markets, including Greece's, which suffered losses in its indexes and the majority of stocks on Tuesday. This was the third straight session of losses for the benchmark, after it hit a 13-year high last week. Turnover was boosted by the inclusion of Athens International Airport in the FTSE indexes.

Projects worth 17.1 billion euros are expected to be implemented in the coming years by the four large domestic construction groups GEK Terna, Intrakat, Avax and Mytilineos.

The benchmark of the Greek stock market came off Thursday's 13-year-high to record moderate losses on Friday at the end of another week of price growth, the third in succession. The continued rise of foreign bourses, including Wall Street, has helped. As of Monday the main index at Athinon Avenue will incorporate Athens International Airport.

Greek stocks recovered after Wednesday's respite, with the benchmark rising to yet another 13-year high on Thursday, thanks mostly to the growth recorded by a few blue chips and by mid-caps.

After six sessions of gains in a row for the benchmark, which took it to a 13-year high, the Greek stock market endured moderate losses on Wednesday, in spite of the spectacular entry of Athens International Airport.