Terna Energy

March proved to be the first month of decline - albeit marginal - after four months of growth for the benchmark of the Greek stock market, which dropped just 0.17% from end-February. In the last session of the local bourse ahead of the four-day recess, most stocks posted gains despite the decline of the banks index.

The Greek stock market rebounded on Wednesday, driven mainly by Piraeus Bank and other lenders, but the daily turnover showed a significant decrease from the previous days, which is partly explained by the simultaneous reopening of a state bond.

The March triple witching sent the bourse's turnover soaring to over 350 million euros on Friday, while the benchmark grabbed some more ground, all but offsetting the major losses it had suffered on Monday. That meant the week closed with small losses, for the first time after seven weeks of growth.

A late rally at Athinon Avenue gave the benchmark of the Greek bourse fresh momentum on Thursday, allowing it to easily surpass the 1,400-point barrier and close the day on a high. Non-bank blue chips outperformed, boosting a market that continues to have very high daily turnover levels since the placement of Piraeus Bank shares last week.

The benchmark of the Greek stock market on Wednesday recovered some more of the ground it had lost on Monday, but narrowly missed out on retopping 1,400 points. Turnover remained high for another day as the local bourse edges month after month closer to being readmitted to the group of developed markets.

Stocks were evenly split between winners and losers at Wednesday's session in the Greek bourse, though the benchmark recovered half of the ground it had lost on Tuesday, all in the context of the completion of Piraeus Bank's share placement. This has absorbed a significant portion of the market's liquidity, not only this week but also in the previous couple of weeks.

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 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 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.