BUSINESS

ATHEX: Benchmark may have run out of steam

TAGS: Stocks

The Greek bourse’s benchmark may have notched up more gains at the start of the week to reach a fresh 28-month high, but the hesitant investor moves throughout the day and the relatively low trading volume point to the market waiting for news about a bond issue by Athens and the likelihood that the recent rally may have come to an end.

The Athens Exchange (ATHEX) general index closed at 858.08 points, adding 0.19 percent to Friday’s 856.47 points. The large-cap FTSE-26 index expanded 0.15 percent to 2,226.87 points, while mid-caps increased a healthy 2.48 percent.

Banks had a mixed day, but their index improved 0.23 percent largely thanks to Piraeus that rose 1.16 percent. National grabbed 0.54 percent and Alpha netted 0.44 percent, as Attica fell 3.97 percent and Eurobank contracted 0.97 percent.

PPC stood out for its 2.22 percent increase, and Viohalco for its 1.35 percent decline.

In total 65 stocks recorded gains, 40 sustained losses and 23 remained unchanged.

Turnover amounted to 52.3 million euros, down from Friday’s 66.2 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.49 percent to close at 76.14 points.

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