Bank gains offset losses posted by most stocks

Rising blue chips offset the decline posted by the majority of stocks on the local bourse as the market reopened on Tuesday after the Easter break.

The Athens Exchange (ATHEX) general index ended the day at 720.98 points, adding 0.87 percent to last Thursday?s closing level of 714.78 points. The blue chip FTSE/ATHEX 20 index grew 0.65 percent to end at 281.60 points. However mid-caps slid 0.39 percent.

Banks rose on positive expectations regarding their recapitalization process, with Eurobank EFG gaining 7.31 percent and Alpha Bank climbing by 6.19 percent. Titan cement shed 3.53 percent, while Bank of Cyprus declined by 3.29 percent.

In total, 64 stocks registered gains, 70 posted losses and 21 remained unchanged.

Turnover came to 44.6 million euros, twice as much as last Thursday?s 22.3 million euros.