BUSINESS

ATHEX: Favorable reports send domestic bank stocks higher

TAGS: Stocks

Eurobank’s first-quarter results, the Alpha and Eurobank deal with KKR for the management of nonperforming loans, and favorable reports on bank stock prices saw the banks index rise 3.71 percent and led to gains of almost 1 percent for the Greek bourse benchmark on Tuesday.

The Athens Exchange (ATHEX) general index closed at 626.37 points, adding 0.95 percent to Monday’s 620.50 points. The large-cap FTSE 25 index expanded 1.63 percent to end at 176.61 points.

Alpha Bank outperformed, rising 5.50 percent, followed by EYDAP (up 3.95 percent), Jumbo (3.92 percent) and Piraeus Bank (3.21 percent). Ellaktor gave up 3.65 percent, Aegean Air declined 3.01 percent and Folli Follie contracted 2.22 percent.

In total 61 stocks registered gains, 33 posted losses and 18 closed unchanged.

Turnover was the highest of the last five sessions, amounting to 104.6 million euros, up from Monday’s 49.2 million.

In Nicosia the general index of the Cyprus Stock Exchange fell 1.06 percent to close at 67.24 points.

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