ATHEX: Another late rally buoys bourse index

TAGS: Stocks

Yet one more session on the Greek bourse went almost a full day with the benchmark in the red, before a late rally offset losses to give marginal gains to the main index through the support of one of the market’s biggest stocks, Coca-Cola HBC. The market is so shallow – as extremely limited turnover also reveals – that a few orders in the buying auctions are enough to sway the final result of each day in either direction.

The Athens Exchange (ATHEX) general index closed at 566.80 points, adding just 0.04 percent to Thursday’s 566.58 points. On a weekly basis it contracted 2.63 percent.

The large-cap FTSE 25 index expanded 0.13 percent to end at 1,526.15 points, but mid-caps declined 0.25 percent.

Coca-Cola rebounded from Thursday’s drop to advance 4.19 percent. PPC edged even higher, by 5.24 percent, and METKA gained 4.23 percent.

Bank stocks, on the other hand, slumped 2.33 percent, as Alpha fell 2.94 percent, Piraeus gave up 2.08 percent, Eurobank conceded 2 percent and National shrank 1.52 percent.

In total 40 stocks recorded gains, 49 sustained losses and 23 remained unchanged.

Turnover came to 22 million euros, down from Thursday’s 30.2 million.

The general index of the Cyprus Stock Exchange in Nicosia increased 0.56 percent to close at 68.36 points.