Cenergy Holdings

Exposed to international pressures and lack of liquidity on a domestic basis, the Greek stock market remained in downward territory for the third consecutive day. Banks were again at the center of the liquidation, while few securities “escaped” with profits.

Stocks suffered considerable losses at Athinon Avenue on Tuesday, with traders targeting specific blue chips, which had a knock-on effect on most other stocks. This was the biggest daily fall for the benchmark since early August.

The bourse session at Athinon Avenue on Wednesday practically picked up from where Tuesday's session had left off, with further gains for the majority of stocks, led by banks, albeit, again, on reduced turnover.

Another subdued session at the Greek stock market turned early gains into eventual losses on Monday. While mid-caps remained in the black and losing stocks outnumbered gainers by the smallest of margins, banks remained the weakest link, with sellers focusing on National Bank in particular. This came on the lowest daily turnover of the last 18 sessions.

The reaction of the Greek stock market on Friday to a string of sessions of decline was fairly unsatisfactory, as buyers appeared to be suffering from fatigue that the previous months' advance may have generated, without the catalyst that would trigger a rise. The market has now stagnated between 1,400 and 1,500 points for months.

The Greek stock market completed nine sessions of benchmark losses out of the last 10 on Thursday, with little fresh money coming in and the market being eager once again for some tangible developments such as business deals that have not already been priced in.

The Greek stock market continued to be “trapped” in a selling mood for the fourth consecutive day, with shares retreating significantly from the 1,420-point level and losing the support of 1,415 points. The share placements and capital increases by listed companies seem to be weighing on the market, at least in the short term.

On Tuesday, the first day of its new shares' public offering, Cenergy Holdings recorded strong investment interest from the US, where the 200 million euros of the share capital increase will be directed. The process will be completed on Thursday.

– Greetings! Just when we were almost done with the PASOK crowd and thought we’d be bored with the government’s dull antics, bam, the SYRIZA people pop up to give us life and fodder for instant commentary. Kasselakis exploded in fury because, as EfSyn (a newspaper aligned with them) reported, some details from his declaration of assets came to light.

Corporate developments regarding GEK Terna and Cenergy Holdings attracted investor interest at Athinon Avenue on Tuesday, but the negative mood from the relative disappointment of world markets about the Chinese economic stimulus affected trade too. Turnover declined but still managed to make the 100-million-euro level, once again having National Bank as the protagonist of the day.