BUSINESS

ATHEX: Local stocks are on a roll

TAGS: Stocks

The Greek stock market benchmark cleared the 750-point barrier on Friday as it rose for a ninth straight session. Despite the downward revision of Greek growth by Brussels and the absence of any discussions on the much-needed easing of the Greek debt in Thursday’s Euro Working Group, the market considers itself underpriced and is refusing to concede any ground now that it has attained upward momentum.

The Athens Exchange (ATHEX) general index closed at 753.99 points, adding 0.68 percent to Thursday’s 748.92 points. It grew 5.87 percent on a weekly basis. The large-cap FTSE 25 index improved 0.74 percent to 2,017.24 points, while mid-caps fell 1.02 percent.

In spite of being down 2.8 percent at one point during the session, the banks index closed up 0.84 percent on National’s 2.30 percent advance and Alpha’s 1.40 percent expansion. Eurobank dropped 1.89 percent.

Grivalia Properties outperformed (up 5.18 percent), ahead of GEK Terna (3.70 percent) and Lamda Development (2.99 percent). Motor Oil fell 1.61 percent and Viohalco gave up 1.55 percent.

In total 54 stocks recorded gains, 40 displayed losses and 35 remained unchanged.

Turnover amounted to 86.7 million euros, down from Thursday’s 134.2 million.

In Nicosia the general index of the Cyprus Stock Exchange jumped 1.21 percent to 75.02 points.

Online