Ellaktor

All of Wednesday’s stock gains evaporated during Thursday’s trading session in Athens as uncertainty regarding the country’s political and fiscal future overshadowed the positive corporate results announced in the last few days.

German airport operator Fraport along with Greek energy group Copelouzos was named the preferred bidder to lease and operate 14 of Greece's 39 regional airports, the country's privatisation agency said on Tuesday.

The Greek bourse continued rising on Thursday, albeit at a much slower pace due to investors exercising caution ahead of the results of Athens’s negotiations with its creditors and Fitch’s credit rating report.

Concerns that local banks are planning to resort to fresh share capital increases without the participation of old shareholders – in a bid to reduce the stakes that the bank bailout fund currently holds in them – led Greek credit sector stocks lower on Wednesday, as the elation at the stress test results has all but worn off. The rest of the market followed suit, despite a promising start.

By Nikos Roussanoglou

Ellaktor subsidiary Aktor has secured the biggest construction project ever obtained by a Greek company abroad by signing the contract for the study and construction of the Gold Line Underground metro line in Doha, Qatar, worth 3.2 billion euros.