Terna

Despite the significant decline of the banks index, other stocks at Athinon Avenue welcomed back buyers on Wednesday, with trading volume remaining just above the 50-million-euro mark after the MSCI index restructuring produced no surprises for listed companies. A bank rebound could fuel a further rise over the rest of the week.

Six candidates have expressed their interest in a tender to buy Larco General Mining & Metallurgical Company assets, including the leasing of the mining complex in Larymna.

According to information, the six candidates were: GEK Terna, Tharisa Plc, Mytilineos Group, Solway Investment Group, Trafigura Group Pte, and Commodity and Mining Insight Ireland Limited.

The Greek bourse followed on Tuesday in the footsteps left by major foreign markets over the last couple of days, taking its benchmark just over the 760-point mark, though banks had less to do with that growth than other blue chips. Turnover saw a marked improvement too.

The Hellenic Republic Asset Development Fund SA (TAIPED) announced on Monday that six interested parties have submitted expressions of interest for the lease of a number of Larco General Mining & Metallurgical Company assets, namely its Larymna smelting plant, the Larymna and Loutsi mines and relevant mining rights, and other assets owned by the Greek state.

This Friday is the deadline for bids in the final stage of the tender for the extension of Pier 6 of Thessaloniki Port Authority (OLTH).

Work begins on Saturday on the new waste management system in the Peloponnese, the biggest of its kind in Greece.

Friday will see the signing of the concession agreement, granting Terna Energy the rights to start operating the system managing the waste of Corinthia, Arcadia, Argolida, Messinia and Lakonia in 10 months' time.

Greek stocks staged a remarkable turnaround on Thursday, as they swapped losses for gains, boosted by the reversal of bank stocks' fortunes. This was mainly seen as a reaction to the recent decline of prices from the January 4 peak, and was implemented on the highest daily turnover so far this year.

Greek stocks suffered extensive losses at the end of the week, underperforming their peers across most of the continent. While the prospect of the share capital increases in banks takes its toll on the local market in general, the trend for sales was universal, affecting even the majority of small-caps.

Despite the early euphoria on most European markets after the peaceful inauguration of Joe Biden in Washington, which led Asian stocks higher too, the afternoon saw prices slide at Athinon Avenue, led by banks. Traders would have liked to hear some more concrete comments from the European Central Bank on Thursday other than Frankfurt's decision to stay put.

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.