BUSINESS

ATHEX: Unlikely rise for stocks

TAGS: Stocks

Greek stocks surprised observers on Wednesday, as prices rose despite the pressure on most foreign stock markets. The increase in bond prices, in harmony with the rest of the eurozone, and the drop in the T-bill auction rate on Wednesday played a role in the growth of stocks.

The Athens Exchange (ATHEX) general index closed at 781.14 points, adding 0.22 percent to Tuesday’s 779.45 points. The large-cap FTSE-25 index expanded 0.14 percent to 2,031.89 points, while mid-caps slumped 1.89 percent.

The banks index continued to rise, possibly on optimism regarding the ongoing stress tests, gaining 1.91 percent. Alpha jumped 4.18 percent, Piraeus improved 2.19 percent and National grew 1.04 percent, as Eurobank fell 1.06 percent. Elsewhere, Viohalco gave up 2.24 percent, Piraeus Port Authority conceded 2.13 percent and Aegean Air advanced 2.02 percent.

In total 56 stocks reported gains, 41 sustained losses and 38 remained unchanged.

Turnover was the lowest of the last 10 sessions, amounting to just 37.4 million euros, down from Tuesday’s 43.3 million euros.

In Nicosia the Cyprus Stock Exchange general index contracted 0.33 percent to 66.70 points.

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