OLP

Banks recorded robust gains on Monday, leading the benchmark at the Athens stock market higher in the first session of the week.

Stocks of Piraeus Bank, PPC, Jumbo and the National Bank overperformed, though turnover remained thin.

Piraeus Port (OLP), operator of Greece's biggest port and majority-owned by China's Cosco Shipping, has agreed to team up with the operator of Shanghai port, the world's largest container port, to promote container shipping traffic.

A few days before Prime Minister Alexis Tsipras heads off to Beijing to take part in the Belt and Road Initiative Forum in search of investors, Chinese group Cosco is faced with a fresh obstacle in its plans to develop the Piraeus Port Authority (OLP) as the Ministry of Culture says it wants to acquire OLP buildings.

By Vangelis Mandravelis

A possible deal between the government and the country?s creditors will signal the restart of a series of privatization projects, according to a top official at state sell-off fund TAIPED. Seven projects that have been frozen will get a new lease of life.

Stevedores held a protest on Thursday to voice opposition to the privatization of the Piraeus Port Authority (OLP) and pledged further action if the government does not halt the planned sale of a 67 percent stake in OLP.

The port workers staged a march to the Shipping Ministry, where they held a meeting with Alternate Minister Theodoros Dritsas.

A Council of State decision that raises obstacles to the privatization of the Athens Water Company (EYDAP) and the election of a new Piraeus mayor who is against the sale of the OLP port authority failed to dampen investors’ relief on Monday at Greece’s European and local election results, which appear to have reduced the chances of an early general election, for now at least.