BUSINESS

ATHEX: Stocks rally after falling for 7 sessions

TAGS: Stocks

The Greek stock exchange rebounded on Friday, in line with most of its European counterparts, with traders signaling that the murder of a pro-Europe MP in Britain could swing the upcoming referendum vote and keep the country in the EU. Stocks rallied in Athens after seven consecutive days of decline, helped by the eurozone’s decision to disburse the much-needed 7.5 billion euros to Greece.

The Athens Exchange (ATHEX) general index closed at 586.55 points, adding 5.40 percent to Thursday’s 556.48 points. On a weekly basis it declined 5.19 percent. The large-cap FTSE 25 index expanded 7.40 percent to end at 159.18 points.

Banks covered almost half of the ground lost in the previous seven sessions, with their index rebounding 16.85 percent on Friday. Piraeus grabbed 20.35 percent, National rose 16.75 percent and Alpha climbed 16.47 percent.

Hellenic Petroleum led the other blue chips, improving 8.45 percent. Heading south were Titan Cement (down 3.09 percent) and Grivalia Properties (0.59 percent).

In total 71 stocks enjoyed gains, 30 suffered losses and 12 remained unchanged.

Turnover amounted to 100.7 million euros, up from Thursday’s 86.4 million.

The bourse will reopen on Tuesday, after Monday’s Pentecost holiday.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.79 percent to close at 68.78 points.

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