Metka

Athens-listed METKA announced on Monday that its consortium with General Electric will start the construction of a new energy production plant in Ghana, as provided for in an agreement with Amandi Energy since last March.

The combined-cycle power unit at Takoradi with a capacity of 200 megawatts will be completed within 28 months, METKA said.

The absorption of the Mytilineos Group's subsidiaries - METKA, Aluminium of Greece, Protergia and Protergia Thermo - by Mytilineos Holdings is expected to be completed by end-August 2017, the group has announced, in a move that will create a new industrial and economic force in Greece.

Athens-listed Mytilineos Group is entering a new era, as it announced on Wednesday that it is conducting an absorption-type merger of all its main subsidiaries (METKA, Aluminium of Greece and Protergia).

The benchmark index of the Greek bourse declined for the fourth session in a row yesterday, in line with its international peers, where the general feeling was one of nervousness as to what the political landscape will look like after the US election on Tuesday. This also explains the very low trading volume at Athinon Avenue.

The benchmark of the Greek stock market has been lurching from gains to losses since October 12, so after Thursday's rise, Friday's fall came as no surprise. Understandably, investors haven't been impressed by the bourse's rudderless moves, resulting in trading volume sinking anew.

After Tuesday's healthy gains, it was back to the old routine for Greek stocks on Wednesday, with a mixed picture among blue chips and trading volume slipping back below the 30-million-euro level.

Greek stocks had a mixed day on Tuesday as banks and small-caps declined while mid-caps and the majority of blue chips enjoyed gains, a day after a worse-than-expected result from the Eurogroup meeting in Luxembourg.

Yet one more session on the Greek bourse went almost a full day with the benchmark in the red, before a late rally offset losses to give marginal gains to the main index through the support of one of the market's biggest stocks, Coca-Cola HBC.

Having spent all day in the red, the benchmark of the Greek bourse received a late boost during the closing auctions on Tuesday, particularly from the stocks of OTE and OPAP, to finish the session marginally in the green, albeit with very thin trading volume.

The Greek bourse benchmark finally cleared the 650-point level on Tuesday to record a new seven-month high, as the certainty of Greece finally meeting all the bailout review requirements pushed stock prices higher at the end of the session.