BUSINESS

ATHEX: Banks propel benchmark to highest point in 5 months

TAGS: Stocks

The Athens bourse was bolstered on Tuesday by a Moody’s report that upgraded the outlook on the Greek bank sector. The benchmark climbed to a new five-month high and banks jumped 7.16 percent.

The Athens Exchange (ATHEX) general index closed at 631.21 points, adding 2.50 percent to Monday’s 615.83 points. The large-cap FTSE 25 index expanded 3.25 percent to 1,716.36 points.

Bank stocks continued their spectacular November, with Piraeus soaring 11.11 percent, National advancing 8.61 percent, Eurobank grabbing 6.67 percent and Alpha improving 5 percent.

Elsewhere Public Power Corporation increased 7.84 percent, Motor Oil grew 5.83 percent and Hellenic Petroleum rose 4.46 percent. Ellaktor and OTE were the only blue chips to head lower, dropping 2.46 percent and 0.71 percent respectively.

In total 69 stocks posted gains, 41 took losses and 16 ended unchanged.

Turnover amounted to 85.1 million euros, up from Monday’s 70.3 million.

In Nicosia the general index of the Cyprus Stock Exchange fell 0.94 percent to close at 65.62 points.

Online