Healthy rise on reduced stock trading

Stocks recovered on Monday some of the ground lost last week, as the benchmark index closed on the day’s high to add more than 2 percent, on a remarkably low transaction volume. The closer we get to August, the more the trading activity will decline on days with few major news developments.

The Athens Exchange (ATHEX) general index closed at 1,178.38 points, adding 2.03 percent to Friday’s 1,154.89 points. The blue chip FTSE/ATHEX 25 expanded by 2.15 percent, closing at 380.34 points.

Banks once again led the way on relief that the Portuguese crisis of last week provide not to be contagious, with the bank index adding 3.09 percent. Piraeus Bank outperformed (up 4.61 percent), followed by Ellaktor (4.61 percent) and National Bank (3.64 percent).

The only blue chip to go down was Marfin Investment Group, shedding 0.67 percent.

Coca-Cola HBC added 1 percent with Goldman Sachs revising its recommendation from ‘neutral’ to ‘buy’.

In total 84 stocks recorded gains, 32 registered losses and 24 remained unchanged.

Turnover was the fourth smallest within 2014, amounting to just 56.3 million euros, down from last Friday’s 73.6 million.