Late rally offsets early stock losses

Bank stocks kept the benchmark index at the Athens bourse afloat on Thursday, as a late rally that culminated in closing auctions prevented a slide after Wednesday’s moderate gains.

The Athens Exchange (ATHEX) general index closed at 1,223.28 points, adding just 0.03 percent to Wednesday’s 1,222.88 points. The large-cap FTSE/ATHEX 25 contracted by 0.09 percent to 403.79 points.

The banks’ sectoral index added 1.02 percent, with Piraeus growing by 2.25 percent and Alpha rising by 1.65 percent.

Frigoglass outperformed and expanded by 3.64 percent, ahead of Hellenic Petroleum that climbed by 2.79 percent.

Terna Energy led losers and declined by 1.63 percent, while Titan Cement shed 1.48 percent and Public Power Corporation dropped 1.44 percent.

In total 59 stocks posted gains, 74 showed losses and 27 stayed unchanged.

Turnover amounted to 79.8 million euros, down from Wednesday’s 93.8 million.