BUSINESS

ATHEX: Most stocks stage recovery

TAGS: Stocks

The Greek stock market made a remarkable recovery on Tuesday with the benchmark ending up just below the 700-point mark. The recent selling spree at Athinon Avenue, the decline in Greek bond yields and the relative euphoria on foreign markets set the stage for a stock surge but the relatively poor trading volume didn’t give it the power required to clear the psychologically important level.

The Athens Exchange (ATHEX) general index ended at 699.89 points, adding 1.44 percent to Monday’s 689.96 points. The large-cap FTSE-25 index expanded 1.40 percent to 1,834.46 points.

The banks index advanced 2.27 percent, thanks to gains registered by National (up 5.05 percent), Piraeus (3.38 percent) and Alpha (2.67 percent). Eurobank fell 1.10 percent.

After undertaking the representation of Wella hair products, Sarantis jumped 6.27 percent. Titan Cement increased 4.06 percent and Viohalco grew 3.18 percent.

In total 53 stocks posted gains, 30 took losses and 33 stayed unchanged.

Turnover amounted to 36 million euros, up from Monday’s 32.1 million.

In Nicosia the Cyprus Stock Exchange general index improved 0.51 percent to close at 73.04 points.

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