OTE TELECOM

The positive start to Wednesday's bourse session in Athens, on the back of the rise at the New York Stock Exchange on Tuesday, gave way to losses that led the benchmark lower for a seventh day in a row, a sequence unseen in more than 21 months. Piraeus Bank's 8.45 percent drop played a big part in that result.

The Greek stock market's banks index continued its decline on Thursday, falling 2.45 percent to its lowest point this year. Other stocks at Athinon Avenue also headed south, although the positive opening in New York helped the benchmark to contain the drop during the closing auctions.

The Athens bourse benchmark rose again on Friday, tipping the weekly balance from losses to gains, following two weeks on a downward slide. Trading volume remained low though, as investors appear reserved about the outlook of the local economy and the international landscape in general.

 Greece's privatisations agency HRADF said on Tuesday it launched an international tender to sell a 5.0 percent stake in OTE Telecom, corresponding to 24.5 million shares.

"The tender process will be conducted in one phase and interested investors are requested to submit their binding offers ... no later than 15 March 2018," HRADF said.

Buyers made a comeback at the Greek stock market on Friday, as they took the benchmark more than 1 percent higher while turnover surged above 150 million euros. The market appeared to have been expecting that Greece's credit rating would be upgraded by Standard & Poor's.

In a perfectly balanced trading session at Athinon Avenue on Tuesday, stocks were split down the middle between winners and losers, with the benchmark remaining rudderless.

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.