GEK Terna

Greece has received nine non-binding bids for the sale of a 65 percent stake in its dominant gas supplier DEPA Commercial, its privatisation agency said on Monday.

Investors who have expressed an interest in the stake include Shell Gas, Vitol Holding, Power Globe, MET Holding and C.G. Gas Limited of Greece's Copelouzos group, the agency said in a statement.

Terna Energy has completed the acquisition of the RF Energy Omalies SA wind power company in a move that signals a new generation of investments in both the sector of renewable energy sources and the energy sector in general.

Despite the pressure on banks at the Greek bourse on Tuesday that looked as though it might drag the benchmark lower still, most of the rest of the market posted healthy gains that saw the main index come off a four-year low, on improved turnover too.

The double whammy of mounting worries over the coronavirus epidemic and the standoff between Saudi Arabia and Russia on oil output and prices wreaked havoc on global markets, with Athinon Avenue taking a serious beating on Monday in the biggest daily declined suffered in almost four years. All of the impressive gains recorded in 2019 have been wiped out in the last few session, as the benchmark

Athinon Avenue experienced a mixed day on Wednesday following a number of sessions during which trends were clear, with the benchmark showing moderate gains as the banks index lost some ground.

Oil giant Shell is seeking to make a fresh entry in the domestic natural gas market through DEPA Commercial, changing the landscape in the battle for a 65 percent stake in the company, and generally in the retail and wholesale natural gas market.

The Greek bourse completed its worst week since 2014 as its benchmark index slumped 19.34 percent due to concerns over the impact of the coronavirus outbreak on the economy. The decline continued unabated at Athinon Avenue, once again led by the banks index.

Greek stocks on Tuesday reclaimed some of the ground lost in Monday's 8.3 percent slump, on very encouraging trading volume, with banks jumping by over 5 percent to cover almost half of the previous day's losses. 

After a particularly quiet session on the Greek bourse, with the lowest turnover of the last four-and-a-half months, the benchmark at Athinon Avenue ended its four-day rising streak on Monday with a slight decline, mainly due to the bank losses.

The benchmark at Athinon Avenue proved unable to hold on to most of the gains it had recorded during the day on Wednesday, in line with the majority of other eurozone bourses. It presented a mixed picture at the end of the session, with rising stocks narrowly edging out the losers on a day when the bond market dominated investor interest.