GEK

The European Commission on Monday gave the Greek Infrastructure Ministry the nod for the construction of the northern part of European route E65 the runs from Trikala to Grevena.

The benchmark of the Greek stock market ended the week at its lowest level since Christmas, with traders remaining reserved about the course of the economy as the pandemic continues to break one record after another internationally.

The Greek bourse began the day on an upward course on Tuesday, but as the session went on it started losing steam and eventually settled for moderate losses for the benchmark. It ended up below the 800-point mark for the first time in more than two weeks.

The Greek stock market closed for Christmas on Wednesday with further gains for most companies, on the strength of the growing prospects of an agreement between Brussels and London over Brexit, although the day's turnover was the lowest in the last 33 sessions. The bourse will next reopen on Monday.

Greek stocks recovered somewhat on Tuesday from Monday's slump due to the UK's troubles with the mutation of the coronavirus and the impasse in the Brexit talks, as the benchmark climbed back up to 780 points. However, the level of trading volume indicated that the minds of many were already occupied with the holidays.

Though few admitted to it, there was much anticipation that Friday's triple-witching session at the Greek bourse would be the one to take the benchmark above the psychologically significant level of 800 points.

Thursday's bourse session was relatively quiet ahead of Friday's triple witching, with some selective profit-taking among blue chips. Stocks were split between winners and losers, with banks showing some significant fluctuations before settling for moderate losses.

Fresh hopes of a Brexit deal on Tuesday gave stocks across Europe a fresh push, with Greek stocks following suit to take the local market's benchmark back up to within striking distance of the 800-point level. Turnover has increased in the last few sessions, this being the last full trading week of the year.

Greece received one binding bid for the long-term Egnatia Odos highway concession in the north of the country, privatization agency TAIPED said on Friday.

The bidder was a consortium of GEK Terna with Egis Projects, the agency said in a statement, adding that it would not unseal the bid until a court ruled on an injunction filed by two consortiums.

The Greek stock market appears determined to stretch its November momentum through to the end of the month, as it enjoyed significant gains on Thursday that took its benchmark to a new eight-month high.

The Athens Exchange (ATHEX) general index ended at 726.92 points, adding 3.08% to Wednesday's 705.21 points. The large-cap FTSE 25 index expanded 3.34% to close at 1,725.52 points.