Ellaktor

The European Stability Mechanism's decision to unfreeze short-term debt lightening measures for Greece, and the seven consecutive sessions of decline for the banks index fueled a significant upturn on Tuesday both in stock prices and turnover.

The decision by the European Stability Mechanism (ESM) to freeze short-term measures to ease Greece's debt also froze buying interest in the local market, leading to losses for the majority of stocks on Wednesday, which may well continue into Thursday's session.

The variety of ways in which the Eurogroup decisions on Monday were assessed led to a variety of trends among investors during Tuesday's bourse session at Athinon Avenue. Eventually the buyers outweighed the sellers, but only at the closing auctions.

Greece's biggest construction firm, Aktor, a subsidiary of Ellaktor, on Thursday denied any wrongdoing after a Greek prosecutor charged it with fraud in connection with two state infrastructure project tenders launched in 2007 and 2011.

Athens-listed companies Ellaktor and Intracom Holdings said on Monday they are being investigated, among other firms, by the Hellenic Competition Commission for projects awarded by the state in past years.

Both companies said at this stage it is not known when the investigation will be completed and can't speculate on its outcome or possible effect on their finances.

Leonidas Bobolas, CEO of construction firm Ellaktor, said on Wednesday that he contacted authorities to settle a tax issue of his own accord and was not arrested as reports suggested.

Turnover rose above 100 million euros as Greek stocks gave up more ground on Thursday, with the fact that investor interest in the local stock market is only piqued when it?s time to sell becoming increasingly clear. Traders harbored little hope for progress in the premier?s talks in Brussels.

The return of deflation to the eurozone and continued talk about a possible Greek exit from the economic and monetary union inflicted fresh losses on local stocks on Wednesday, although these were contained to less than 1.5 percent for the benchmark ? from over 3.5 percent earlier in the day ? marking a new 26-month low.

German airport operator Fraport along with Greek energy group Copelouzos was named the preferred bidder to lease and operate 14 of Greece's 39 regional airports, the country's privatisation agency said on Tuesday.

The local stock market saw little reason to buy into Friday’s news of the country’s official return to growth, with the weak momentum abating but taking the benchmark just over 890 points while trading volume ended at the lowest level of the last seven sessions.