Declining blue chips dragged the benchmark of the Greek bourse lower on Tuesday, as the various scenarios regarding proposals and counterproposals placed on the negotiating table by Athens and its creditors appeared to confuse investors instead of inspiring them at the start of the four-day trading week.
The Athens bourse?s recent spurt of growth came to an end on Wednesday. The benchmark closed at its lowest point of the session, with losses of 1 percent, as investors chose to cash in some of their gains from the previous five sessions of growth. The declines on a number of other European markets also played a role.
The local stock market reacted positively on Monday after the government?s negotiating team was reshuffled ? in a move that appears to have sidelined the much-criticized Finance Minister Yanis Varoufakis ? taking the benchmark close to 800 points in what was the fourth consecutive session of gains for most stocks.
Bourse benchmark has lost 20 percent in the last three days
Greek securities sank afresh on Thursday as panic selling in stocks and bonds led the bourse benchmarks total losses over the last three sessions to 20 percent, with 13 billion euros wiped off the value of Greek shares, while 10-year sovereign bond yields soared over 9 percent.
York Global Finance Offshore BDH (Luxembourg) S.a.r.I. announced the acquisition of another 5,133,174 shares in blue chip Terna Energy on Thursday in a non-bourse transaction amounting to a 4.70 percent stake in the Athens-listed company.
The share purchase has seen York Globals stake in the Greek energy firm climb to 7.70 percent,corresponding to 8,412,606 shares.