BUSINESS

ATHEX: Auctions’ start extends gains for bank stocks

TAGS: Stocks

The launch of online auctions gave the banks index, and the local stock market in general, a fresh boost on Wednesday on considerably improved turnover that mirrored aspirations for a swift conclusion to the third bailout review and the strengthening of banks’ financial reports.

The Athens Exchange (ATHEX) general index ended at 738.31 points, adding 1.67 percent to Tuesday’s 726.17 points. The large-cap FTSE-26 index expanded 1.70 percent to close at 1,924.92 points, while small-caps contracted 1.85 percent.

The banks index grew for a fourth straight session, this time by 6.50 percent, taking its total gains in that period to 12.5 percent. Attica rose 11.11 percent, Eurobank grabbed 10.74 percent, Piraeus advanced 8.65 percent, National improved 7.29 percent and Alpha grew 3.23 percent.

Sarantis lost 3.27 percent and ADMIE Holdings gave up 3.24 percent.

In total 58 stocks posted gains, 45 registered losses and 21 closed unchanged.

Turnover was the highest in two months, amounting to 71.8 million euros, up from Tuesday’s 40.5 million.

In Nicosia the Cyprus Stock Exchange general index rebounded 0.61 percent to 71.06 points.

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