Terna Group

Mitsotakis at the ceremony of the Terna project

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.

Another costly chapter in the lengthy and tumultuous history of state mining company Larco has been added by the liquidation project to find an investor.

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.

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.

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 sixth consecutive session of gains at the Greek stock market brought the benchmark not only to another 13-year high, but also above the 1,400-point mark, on significantly increased daily turnover too. All this was before the entry of the 300 million shares of Athens International Airport, which is scheduled for Wednesday.

The initial public offering of a 30% stake in Athens International Airport, Greece's largest gateway for tourists, attracted strong demand, the airport said on Friday, marking the first successful launch of a major IPO in Europe this year.

The main index of the Greek stock market ascended close to this week's decade high on Friday, with traders focusing on certain blue chips, although mid-caps underperformed this time. A report by Alpha Finance on Friday pointed to an increase of 15% to 25% for the benchmark of Athinon Avenue this year. In fact it has already gained 5.24% since the year started.

Greece is taking a prudent approach on its most emblematic courting of the equities market since its 2009 debt crisis.

Athens International Airport (AIA), 55%-controlled by the Greek state, has won approval to offer 30% of its stock at between 7 euros and 8.2 euros a share, implying a market capitalisation of between 2.1 billion euros and 2.4 billion euros.