BUSINESS

ATHEX: Bank stocks lead the way as index rises

TAGS: Stocks

The Greek bourse benchmark extended its winning streak to five sessions on Wednesday, and on increased turnover at that, thanks to growing anticipation of a successful conclusion to the government’s negotiations with the country’s creditors in the context of the bailout review.

The Athens Exchange (ATHEX) general index closed at 578.83 points, adding 2.15 percent to Tuesday’s 566.67 points. The large-cap FTSE 25 index expanded 2.51 percent to end at 160.36 points, although small-caps declined 0.13 percent.

The banks index climbed 4.63 percent, as Piraeus Bank grew 12.25 percent, Alpha rose 5.91 percent and National advanced 3.32 percent, while Eurobank contracted 2.41 percent. The four lenders’ stocks accounted for 59 percent of the day’s trading in Athens.

Among other blue chips, Ellaktor gained 9.30 percent on news its chief, Leonidas Bobolas, was arrested and released after agreeing to cooperate with authorities in connection with an ongoing corruption investigation in Cyprus, and Terna Energy added 8.33 percent.

In total 80 stocks reported gains, 23 sustained losses and 20 remained unchanged.

Turnover amounted to 113.8 million euros, up from Tuesday’s 41.2 million.

In Nicosia the general index of the Cyprus Stock Exchange gave up 0.25 percent, to 67.67 points.

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