Mytilineos

Undeterred by the pandemic, Athens-listed Mytilineos continues to expand across the globe, announcing on Thursday two new projects, in Chile and the UK.

A joint venture of companies led by Mytilineos has signed an agreement for the Engineering, Procurement and Construction (EPC) of the Protos Energy Recovery Facility project in Cheshire, England, which will treat 400,000 tons of non-recyclable waste per year, the Athens-listed group announced on Wednesday.
 

Greek industrial group Mytilineos donated a SARS-CoV-2 diagnostic machine and laboratory supplies for 5,000 tests, as part of the company's initiatives to support the national healthcare system in the second wave of the pandemic.

Thursday's session on the Athens Stock Exchange was even more subdued than recent days, if that is possible.

In the end, the general index, which had been showing mild losses throughout, tipped over into positive territory, closing at 637.27 points, a gain of 0.36%. Late gains in OTE Telecom were the main reason.

Turnover was €23.61 million on volume of 16,373,894 shares.

The general index closed at 634.97 points, up 1.37% and very near the intraday high of 635.41.

This gain may have limited the losses of previous sessions but the fact remains that the index has been confined within a narrow band above 600 points over the last few months at a time when other markets have thrived, despite the pandemic. Athens remains a disappointing performer.

Greece's privatization agency (TAIPED) said on Tuesday that it has shortlisted seven investors for the purchase of a majority stake in the country's dominant gas supplier, DEPA Commercial.

The coronavirus crisis should herald a change in Greece's production model, prompting a shift away from its tourism-dependent economy, the ongoing Delphi Economic Forum was told on Thursday.

Gazprom Export, the exporting arm of Russian gas giant Gazprom on Monday said it had signed a long-term gas supply contract with Greek company Mytilineos.

The benchmark of the Greek stock market now has the 700-point level in its sights after its sixth day of gains in seven sessions. Construction blue chips led the way this time.

The Athens Exchange (ATHEX) general index ended at 658.35 points, adding 0.88% to Friday's 652.58 points. The large-cap FTSE 25 index expanded 0.52% to 1,579.70 points, while mid-caps contracted 0.25%.

Bank stocks led the Greek bourse lower on Tuesday, in line with most European markets, as traders chose to cash in the gains recorded in the last couple of sessions at Athinon Avenue. The market is now awaiting Wednesday's new package of measures aimed at restarting the economy.