Mytilineos Holdings
Mytilineos acquires Imerys Bauxites
Mytilineos Energy & Metals on Tuesday announced the signing of an agreement with the French company Imerys for the acquisition of 100% of the shares of Imerys Bauxites Greece Single Member Societe Anonyme for 10 million euros. The agreement concerns all bauxite mining activities in the Fokida area, which will now be part of Mytilineos' metallurgy branch.
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Market gains as buyers like blue chips
The Athens Stock Exchange bucked the negative trend observed on European markets Thursday, gaining 0.65% thanks to buying in banks and other blue chips.
The headline index ended at 1,314.31 points on turnover of 87.8 million euros, which was significantly lower than in previous sessions. Blue chips rose 0.69%, mid-caps added 0.44% and banks gained 1.20%.
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Stock market loses grip on early gains
The Athens Stock Exchange proved unable to hang on to early gains recorded on Tuesday. The ASE general index, which got close to its highest levels since 2014, ended down 0.84%, closing at 1,324.28 points.
Negative trends in other European stockmarkets finally were felt in Athens.
Blue chips lost 0.91% and mid-caps dropped 1.35%. Banks lost 0.78%.
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Mytilineos turnover grows 17% in January-June
Athens-listed Mytilineos on Thursday announced a 17% increase in its first half turnover to 2.516 billion euros, from €2.154 billion in the same period last year.
The company also said its EBITDA rose 9% to €438 million, its net profit after minorities jumped 61% to €268 million and earnings per share soared 59% to €1.94.
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ATHEX: Blue chips drive stock index higher
Even without the support of bank stocks, the Athens bourse benchmark soared to yet another nine-year high on Wednesday, in line with the positive mood across eurozone markets. Four out of the 21 non-banking blue chips closed at historic highs, also helped by the Scope Ratings report about the growing prospect of Greece regaining investment grade.
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ATHEX: Benchmark bounces back from losses
On Tuesday high-flying Mytilineos Group and the banking sector led the Greek stock market back to its upward course that has dominated Athinon Avenue throughout this year.
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EU looks to Greece for niche metals
Greece could be Europe's answer to China's decision to restrict exports of gallium and germanium, rare earth elements used in the manufacture of semiconductors, photovoltaics and optical fibers.
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ATHEX: Wednesday’s index gains evaporate
The benchmark at Athinon Avenue gave up on Thursday all the gains it had collected on Wednesday, as banks led the profit-taking activity by investors, although a number of blue chips, such as Mytilineos, maintained their upward course for another day.
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ATHEX: Midweek rebound for main index
After two days of cautious profit-taking, the Greek stock market reverted to its upward course on Wednesday, led by mid-caps, which grew almost 2% on the day, while blue chips such as Aegean Airlines and Mytilineos climbed to historic highs.
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Mytilineos considers relocating abroad
The management of Mytilineos Energy & Metal is pondering whether it should move its headquarters outside Greece, as the company grows and expands its activities in international markets.
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