BUSINESS

ATHEX: Enthusiasm contained on local bourse

TAGS: Stocks

The Greek stock market greeted the release of the 8.5-billion-euro bailout tranche by sending the benchmark to a new two-year high on Friday.

The Athens Exchange (ATHEX) general index closed at 806.12 points, adding 0.80 percent to Thursday’s 799.73 points. On a weekly basis it grew 3.07 percent.

The large-cap FTSE 25 index expanded 0.77 percent to 2,138.36 points, while mid-caps outperformed with their 1.95 percent rise.

Investors in bank stocks had largely factored in the outcome of the Eurogroup earlier in the week, so the banks index was virtually unchanged on Friday (down just 0.01 percent), having enjoyed a temporary rise of up to 4.47 percent during the course of the trading day.

Lamda Development added 5.45 percent to climb to a 38-month high, following its announcement about listing a subsidiary with its mall holdings.

In total 76 stocks registered gains, 26 posted losses and 21 stayed unchanged.

Turnover was the highest in the last eight months, amounting to 243.5 million euros, up from Thursday’s 73.4 million, as it included a multi-million-euro placement in Jumbo (which closed down 4.06 percent).

In Nicosia the general index of the Cyprus Stock Exchange declined 0.66 percent to 75.53 points.

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