BUSINESS

ATHEX: Stocks hit a high unseen in 14 months

TAGS: Stocks

The Greek bourse benchmark’s fourth consecutive session of gains led it to the highest point of the last 14 months on Tuesday despite the absence of any concrete local news that would generate a favorable climate for investors. Part of the rise is attributed to the boost the European banking sector received from the decision to put off the application of the strict Basel Committee regulations.

The Athens Exchange (ATHEX) general index closed at 656.61 points, adding 1.55 percent to Monday’s 646.61 points. The large-cap FTSE 25 index expanded 1.42 percent to close at 1,769.69 points. Small-caps jumped 5.82 percent as the market’s periphery appears to have got traders’ attention for a second day in a row.

Banks rose 4.44 percent, with National up 6.32 percent, Piraeus growing 5.66 percent and Eurobank advancing 4.60 percent, while mid-cap Attica Bank continued its recovery with an 18.92 percent leap.

Ellaktor improved 4.55 percent and Viohalco increased 3.82, as Sarantis fell 1.99 percent and Motor Oil lost 1.64 percent.

In total 67 stocks recorded gains, 31 took losses and 25 remained unchanged.

Turnover amounted to 42.1 million euros, up from Monday’s record low of 10.4 million.

In Nicosia the general index of the Cyprus Stock Exchange rebounded 0.79 percent to close at 66.53 points.

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