OTE TELECOM

Greek bank stocks broke their losing streak on Thursday - but only just - in a trading session of mixed fortunes which ended with stocks split down the middle between winners and losers.

Privatizations fund TAIPED has started the process for the sale of its holdings in OTE telecom and Athens International Airport (AIA). It is now commissioning financial consultants to be tasked with coming up with a utilization model and assisting the process until transactions are complete.

Only by selling its holdings in major listed companies such as OTE telecom, Hellenic Petroleum (ELPE) and Public Power Corporation, can Greece's privatizations program meet the targets agreed with the country's creditors.

The Greek stock market's banks index continued its decline on Monday, posting a 3.52 percent drop to a three-month low and weighing heavily on the bourse's benchmark and the blue chip index, on what was a day of international market unrest due to concerns over North Korea.

State sell-off fund TAIPED has launched the process for selecting consultants for some of its troubled privatization projects, though the question remains over whether they will advance any further.

A positive start to the week's final session in the Athens stock market gave way to a moderate decline in the majority of stocks later in the day, extending the week's losses for the benchmark, as trading volume remained disappointingly low for one more day.

The prospect of long-drawn-out negotiations between Athens and its creditors is testing the patience of investors, and that, combined with jitters regarding the Dutch general election and the Fed's interest rate decision, led to further losses at Athinon Avenue on Wednesday.

The trial of dozens of suspects in the Siemens cash-for-contracts scandal was postponed again Monday, until March 15, after OTE telecom and the Greek state lodged appeals to seek damages.

It seemed the minds of most investors were elsewhere on Thursday judging by the performance of Greek stocks, which drifted slightly higher while turnover was the lowest in the last 12 weeks.

The Athens Exchange (ATHEX) general index closed at 636.67 points, adding 0.15 percent to Wednesday's 635.74 points.

Early gains evaporated for the majority of stocks on the Greek bourse on Wednesday, which ended with a small decline for the benchmark and slightly increased trading volume.

The Athens Exchange (ATHEX) general index closed at 635.74 points, shedding 0.07 percent from Tuesday's 636.19 points.