BUSINESS

ATHEX: Stock index saves the best for last

TAGS: Stocks

A late rally of bank stocks and a few other blue chips offset the losses the benchmark had incurred during most of Wednesday’s session to end in the green, although losers outnumbered climbers. Reports of convergence between government ministers and creditors’ representatives in Brussels played a major part in that late surge.

The Athens Exchange (ATHEX) general index closed at 640.65 points, adding 0.04 percent to Tuesday’s 640.42 points. The large-cap FTSE 25 index expanded 0.20 percent to 1,710.12 points, while mid-caps retreated 0.57 percent.

The late rebound was largely thanks to Piraeus Bank (up 3.29 percent), Alpha Bank (0.63 percent) and Coca-Cola HBC (0.48 percent), whose recovery was enough to swing the benchmark into positive territory in the auctions after two negative closings this week. Among other blue chips Motor Oil fell 4.12 percent and Grivalia Properties jumped 3.23 percent.

In total 37 stocks reported gains, 51 suffered losses and 39 remained unchanged.

Turnover amounted to 44.1 million euros, down from Tuesday’s 53.6 million.

In Nicosia the general index of the Cyprus Stock Exchange slipped 0.20 percent to 66.54 points.

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