BUSINESS

ATHEX: Fourth day of gains for local bourse index

TAGS: Stocks

Traders on the Greek stock exchange were clearly betting on a victory for the Remain campaign in the British referendum on EU membership that took place on Thursday, as rises posted by banks and the benchmark illustrated. The European Central Bank decision late on Wednesday to restore the flow of cheap cash to Greek lenders contributed toward the 5.62 percent rise of the banks index.

The Athens Exchange (ATHEX) general index closed at 617.69 points, adding 0.99 percent to Wednesday’s 611.63 points. The large-cap FTSE 25 index expanded 1.55 percent to end at 1,755.66 points.

After four days of growth the benchmark has gained 11 percent and it remains to be seen how the market will react to the result of the referendum on Friday.

Piraeus Bank outperformed on Thursday, advancing 8.70 percent, followed by Alpha (up 6.79 percent), Ellaktor (5.67 percent) and Eurobank (3.53 percent). OPAP gaming company posted a 5.71 percent drop, and Titan Cement gave up 1.33 percent.

In total 58 stocks reported gains, 46 took losses and 18 remained unchanged.

Turnover amounted to 74.2 million euros, up from Wednesday’s 66.4 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.44 percent to close at 68.37 points.

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