Motor Oil

Yannis Vardinoyannis has been appointed Chairman of Motor Oil, following the death of Vardis Vardinoyannis, according to a decision of the company's board of directors. 

The term of office of the new board of directors is valid until the next General Meeting of Shareholders is convened and until the relevant decision for the election of a new board of directors is taken.

A fire has broken out at the old refinery facilities of Motor Oil. According to the latest reports from the authorities, the fire is not threatening any fuel-filled tanks. As of 8 p.m., the situation had significantly improved, and firefighters expressed optimism.

The Athens Stock Exchange resumed its decline Thursday after a two-session rebound from Monday's mini-crash.

In this, it followed global markets, as investors wonder whether the stock sell-off will continue.

But good news from the US, in the form of better-than-expected unemployment figures, helped stem the fall a little before the ATHEX's closing.

Motor Oil (Hellas) Corinth Refineries announced on Tuesday that it had agreed to purchase through its subsidiary Manetial Ltd 94.44% of Helector, a waste management and alternative fuel production company with a vertically integrated operation and a subsidiary of Ellaktor.

Stocks on the Greek bourse continued their impressive rally following last Sunday's election with another day of robust growth and turnover, taking the Athens benchmark to a new nine-year high on Friday. Adding to the momentum was the Motor Oil deal for the takeover of a solar energy company that brings it back into partnership with Public Power Corporation.

Neptune Lines on Tuesday announced the acquisiton of another vessel for its fleet, and specifically a carrier able to transport 4,900 passenger vehicles.

The "Neptune Ethos" was launched in 2011, and comes months after the company, led by influential Union of Greek Shipowners president Melina Travlos, acquired its sister ship, the "Neptune Tharros".

The estimate that a collapse of the demand for liquid fuels is possible in the very near future due to high inflation was made by the Deputy CEO of Motor Oil during yesterday's teleconference with analysts.

The Greek stock market is currently doing balance exercises around 890 points, which is unable to change level as the majority of portfolios remain on hold. In particular, the general index is moving with gains of 0.25% at 893., 66 points.

The fourth consecutive day of gains at the Athens bourse gave the the benchmark its biggest advance as it climbed close to the 800-point mark, in line with most other markets that were open on Monday. Turnover topped 50 million euros despite the fact that major markets such as those of the US, Hong Kong and China were closed due to holidays.

Despite the significant decline of the banks index, other stocks at Athinon Avenue welcomed back buyers on Wednesday, with trading volume remaining just above the 50-million-euro mark after the MSCI index restructuring produced no surprises for listed companies. A bank rebound could fuel a further rise over the rest of the week.