Index inches up despite bank losses

The local benchmark got off to a promising start on Tuesday but early healthy gains were reined in by the end of the session, as bank stocks slid into the red while non-banking blue chips remained on a rising course. Trading volume showed an encouraging increase following the Greek bourse’s third consecutive northbound session.

The Athens Exchange (ATHEX) general index closed at 1,180.92 points, adding 0.22 percent to Monday’s 1,178.38 points. The blue chip FTSE/ATHEX 25 expanded by just 0.02 percent, closing at 380.43 points.

Despite the small gains in the last three days, the market generally remains on a downward course which has kept the benchmark below 1,200 points over the last few days.

Intralot and GEK Terna led the blue chips, adding 4.71 and 4.68 percent respectively, while Mytilineos grew 3 percent. Banks were the biggest losers, with Eurobank down 2.51 percent and Piraeus giving up 1.89 percent.

In total 58 stocks posted gains, 52 reported losses and 20 remained unchanged.

Turnover amounted to 96.7 million euros, up from Monday’s 56.3 million.