Economy of Greece

The benchmark at the Greek stock market soared to levels unseen in over eight years on Monday, as despite the US holiday traders showed considerable buying interest in local stocks. A number of market deals and the consensus that Greece will outperform the eurozone in growth terms this year appear to have attracted investors on a permanent basis.

A memorandum of cooperation for the financing of the construction of a new drone, between the Hellenic Aerospace Industry (EAV), the Aristotle University of Thessaloniki, the Democritus University of Thrace, the University of Thessaly and the University of Patras, for the design and industrial production of a new unmanned aerial vehicle, was signed on Thursday at an event held at the Finance Mi

Two people stormed an OPAP Play gaming hall in western Thessaloniki on Tuesday night and took 1,000 euros in cash, police said Thursday.

The perpetrators, who appeared around 9.45 p.m., had covered their faces and were holding guns. 

After the robbery they fled on foot.

Wednesday saw the benchmark of the Greek stock market register a new 11-month high on moderate daily gains that changed the earlier picture of negligible losses in a session of rather shallow trade at Athinon Avenue. 

The main index was able to turn the tables in the closing auctions, with rising stocks narrowly edging out the losers.

Analysts are split on when Greece may return to investment grade, in what is seen as a difficult year for the eurozone bond market due to the ECB's aggressive stance, while the national elections are firmly on investors' radars.

The benchmark of the Greek stock market may have seen its rising streak snap on Tuesday, but that was only marginally, as its decline was negligible and the overall course appears unchanged, despite the minor profit taking on the day. The maintenance of turnover at a relatively high level also bodes well for the next few sessions.

Recent legislative changes introduced in the wake of the phone-tapping scandal mean that the independent Authority for Communication Security and Privacy (ADAE) no longer has the authority to respond to requests by citizens regarding whether they were put under surveillance for national security reasons, a Supreme Court prosecutor said in an opinion issued on Tuesday.

Greece's economic growth is likely to slow to just 1.1% this year from a 5.1% clip in 2022 as soaring energy costs and continued uncertainty about the war in Ukraine hurt spending and investment, the OECD said on Tuesday.

The election risk is perhaps the greatest challenge for the course of Greek economy, fiscal stability and the conquest of investment grade, in a year when international uncertainties are running high.

Energy stocks led the Greek stock market's benchmark to new eight-month highs on Tuesday. The Athens bourse confirmed the upward trajectory of the last couple of weeks with a session that saw better turnover and a wider variety of options for traders to implement purchases.