GEK
ATHEX: Bourse falls 3.85 percent over the week
The Greek bourse had a very quiet Friday, recording the lowest turnover since early March, as traders waited for the Eurogroup decision and Moody's verdict on Greece. The benchmark managed to stay afloat even though it ended on the day's low, with the blue chip index turning red.
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ATHEX: Corporate developments buoy stock market
After a mixed session with gains for most stocks and banks leading the losers, the benchmark at Athinon Avenue reported marginal growth on Thursday, based on corporate developments.
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Mohegan remains committed to Greek casino plan despite pandemic
US casino operator Mohegan Gaming & Entertainment said on Monday it remains fully committed to opening a luxury casino resort in Athens as part of an 8 billion euro ($8.74 billion) redevelopment project despite the impact of the coronavirus.
ATHEX: Bourse index reaches new 7-week high
The benchmark of the Greek stock market rose to a seven-week high on Tuesday as it continued its recovery in tandem with the easing of restrictions on economic activity announced. It appears the market will continue to ebb and flow according to the course of the pandemic even after the end of the lockdown next week.
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ATHEX: Stocks begin the week on a high note
The Greek economy avoided a credit rating downgrade on Friday, as Fitch, DBRS Morningstar and Standard & Poor's only reduced its outlook from "positive" to "stable," which investors greeted by sending Greek stocks higher on Monday, although trading volume remained low.
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ATHEX: Stock growth curtailed by end of session
Despite Wednesday's early gains at Athinon Avenue, in line with most eurozone bourses, the session ended with a relatively small increase on particularly low daily turnover, which points to the market's reservations about the economy's emergence from the coronavirus crisis, especially as far as the creation of new nonperforming loans for Greek lenders is concerned.
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ATHEX: Oil prices fuel Athens stock slump
The dramatic slide in oil rates and some negative corporate developments, including QCM's report on Greek Nasdaq-listed firm Akazoo, saw local stocks heading south at the beginning of the week, with the credit sector losing more than 10 percent in a day.
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Bourse index parts with nearly 4 pct
The decline that started toward the end of Tuesday's stock trading session at Athinon Avenue continued throughout the day on Wednesday, led by the credit sector, which took significant losses, in line with most international markets. Daily turnover dropped significantly.
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Dutch fund spends 25.5 mln to raise stake in GEK Terna
Dutch investment fund Reggeborgh Invest has raised its stake in listed construction and energy group GEK Terna to over 32 percent, becoming a de facto strategic investor and a significant guarantor of the future course of the company.
A year ago it had agreed to buy out the 15.3 percent stake that York Capital Management controlled then at GEK Terna.
Businesses working their way out of the crisis
Most business groups with strong liquidity are optimistic they will manage to weather the financial crisis created by the coronavirus epidemic.
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