Terna Energy

The GEK Terna construction group has landed another significant contract, as it has undertaken the construction of the new Nikola Tesla Airport in Belgrade, Serbia, in a consortium with Vinci.

This is a contract worth 262 million euros, and the consortium of Vinci (with a 51 percent stake) and GEK Terna (with 49 percent) will have five years to implement the project.

The closing auctions saved the day for the Greek stock market's benchmark once again on Friday, leading to the highest daily turnover in 30 sessions. The banks index also ended its six-day losing streak, during which it had shrunk by almost 20 percent.

The slight recovery of stock prices during the closing auctions on Thursday did not suffice to offset the losses of the Athens benchmark, which ended almost 1 percent lower. Banks were at the focus of selling interest again.

Stocks rose at Athinon Avenue for a third session in a row on Monday, contrary to the negative move recorded in most eurozone stock markets, but low turnover is making observers wary about the course of the week ahead.

The negative mood among domestic and foreign investors alike saw Greek stocks posting fresh losses at the start of the week, with the decline accelerating when European bourses headed south. The rather unexpected jump in Greek bond yields also contributed toward the stock drop.

The benchmark of the Athens Stock Exchange (ATHEX) headed south on Friday, as financial turmoil in Turkey and the jittery climate in European markets weighed on Greek stocks.

The ATHEX general index ended at 743.73 points, down 1.45 percent from Thursday's 754.65 points.

Turnover came to 27.2 million euros.

Bank stocks helped the Greek market's main index climb almost 1 percent on Monday, following their outlook upgrade by Moody's and despite the increase in the yield on Greek bonds on the secondary market.

The selling spree observed during the first few hours of trade on the Greek stock market on Thursday was reversed as the session went along, and the benchmark eventually recorded a second consecutive day of gains, although turnover remained below the 20-million-euro mark.

Greek stocks continued to move in a narrow range for another day yesterday, with the majority ending lower again, but the benchmark at Athinon Avenue put an end to its four-day losing streak and posted a moderate rise, mainly assisted by the fresh drop in Greek bond yields. The only thing that seems to pique investor interest these days is listed firms' general meetings.

The week at the Athens stock exchange got off to a quiet start with a few buyers and no sellers, while more than half of the trading volume concerned pre-arranged deals. Turnover this July bears more resemblance to that which would normally be expected in August, the traditional holiday month, so one can only wonder what levels it will sink to then.