ADMIE

Greece's Independent Power Transmission Operator (ADMIE) has extended the deadline for bids for the third phase in the construction of a cable link connecting the Cyclades islands in the Aegean Sea to the mainland grid.

Companies have until September 3 to submit their offers as opposed to an original deadline of August 23.

The benchmark of the Athens Stock Exchange (ATHEX) headed south on Friday, as financial turmoil in Turkey and the jittery climate in European markets weighed on Greek stocks.

The ATHEX general index ended at 743.73 points, down 1.45 percent from Thursday's 754.65 points.

Turnover came to 27.2 million euros.

August dawned on the Greek bourse with a return to poor trading volume on Wednesday. Still, the Athens Exchange (ATHEX) benchmark ended in the black after earlier losses were offset during the closing auctions.

The ATHEX general index ended at 761.66 points, adding 0.06 percent to Tuesday's 761.23 points.

August dawned on the Greek bourse with a return to poor trading volume on Wednesday. Still, the Athens Exchange (ATHEX) benchmark ended in the black after earlier losses were offset during the closing auctions.

The ATHEX general index ended at 761.66 points, adding 0.06 percent to Tuesday's 761.23 points.

The selling spree observed during the first few hours of trade on the Greek stock market on Thursday was reversed as the session went along, and the benchmark eventually recorded a second consecutive day of gains, although turnover remained below the 20-million-euro mark.

The European Commission remains vigilant regarding developments in the project for the power connection between Attica and Crete, and sources say it is determined to exhaust all avenues for it to proceed as a project of common interest (PCI).

European concerns about China strengthening its presence in the Greek energy market appear to have played a key role in blocking the electricity interconnection between Crete and the power grid on mainland Greece.

The major project of the electrical interconnection between Crete and Greece's mainland grid is under threat following the sudden end to the cooperation between the Independent Power Transmission Operator (ADMIE) and the EuroAsia Interconnector for the project's joint construction.

The third phase of an ongoing project to connect the islands of the Cyclades by underwater cable to the mainland's power grid has been put to a tender, grid operator ADMIE said on Tuesday.

Firms have until August 23 to submit their proposals for the project, whose budget is set at 115 million euros.

The European Bank for Reconstruction and Development announced on Thursday the signing of agreements to obtain a 20 percent stake in the Hellenic Energy Exchange.