GEK Terna

Greek stocks maintained their growth momentum for another day on Tuesday, despite the attention the issue of the 10-year sovereign bond commanded, with the main index climbing to another eight-year high. Even when European bourses headed lower and some traders indulged in profit-taking, buyers retained the upper hand, with the benchmark edging ever closer to 1,000 points.

After a mixed session that saw construction firms and banks defy the trend which saw most stocks heading lower and closing with losses, the benchmark ended the day on Thursday with negligible gains that sufficed to record yet another 11-month high. This was the eighth session of gains out of the last nine for the main index at Athinon Avenue.

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.

The publication, in the Government Gazette, of the decision of the Minister of Finance for the granting of the "license for the development and operation of a casino with a wide range of activities at the Metropolitan Pole" marks the start of the 1 billion euro investment plan for the construction of the casino and the integrated tourist complex in Ellinikon.

The operating license of the Casino Company (EKAZ) for a wide range of activities in the Metropolitan Pole of Ellinikon - Agios Kosmas and the construction of a hotel, conference and exhibition center and a gathering place for sports or cultural events was signed today, June 8, 2022, by the Minister of Finance Christos Staikouras, as a representative of the Greek State, and the Athens IRC Conce

GEK TERNA is evolving into a new national champion in the fields of concessions, energy and constructions. Large projects that will be completed in 2025 will return to its shareholders cumulative revenues by 2050 at least 20 billion. euro.

The TITAN and TERNA Energy Group consortium participates in the tenders for PPPs for Waste Management Units (WMUs) in Attica and Central Macedonia.

Despite the significant decline of the banks index, other stocks at Athinon Avenue welcomed back buyers on Wednesday, with trading volume remaining just above the 50-million-euro mark after the MSCI index restructuring produced no surprises for listed companies. A bank rebound could fuel a further rise over the rest of the week.

The prospect of a new Attica lockdown sent the Greek bourse tumbling on Tuesday, with severe losses for banks and the majority of other stocks also heading south, erasing the gains of previous days. All but two blue chips headed lower, but the decline is seen as temporary and not structural.

The Greek bourse followed on Tuesday in the footsteps left by major foreign markets over the last couple of days, taking its benchmark just over the 760-point mark, though banks had less to do with that growth than other blue chips. Turnover saw a marked improvement too.