BUSINESS

ATHEX: Bourse index rises above 700 points

TAGS: Stocks

The benchmark of the Athens bourse has cleared the 700-point bar for the first time since early November 2015 after a third consecutive northbound session on Wednesday, while the banks index has now offset all of the losses incurred over the course of this year. Turnover remained on a level reminiscent of the years before the capital controls were imposed.

The Athens Exchange (ATHEX) general index closed at 706.40 points, adding 1.30 percent to Tuesday’s 697.32 points. The large-cap FTSE 25 index expanded 1.34 percent to 1,888.15 points, while small-caps contracted 0.43 percent.

The banks index rose 3.60 percent and is now 3.35 percent up on the start of the year. Piraeus Bank climbed 4.95 percent and Eurobank improved 4.41 percent.

Mid-cap Attica Bank soared 17.78 percent as its subsidiary has received a permit for the management of bad loans and an 80 percent stake in it will be sold to investor Balbec Capital.

In total 57 stocks reported gains, 45 took losses and 33 remained unchanged.

Turnover amounted to 79.6 million euros, just up on Tuesday’s 79.3 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.82 percent to 70.08 points.

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