BUSINESS

ATHEX: Stocks recover most of the ground lost on Wednesday

TAGS: Stocks

Bank stocks recovered most of their Wednesday losses on Thursday, leading the benchmark to notable gains, although this appears to be a technical reaction rather than a real change of heart by investors. The rise in bond yields also indicated that confidence in Greece has yet to be restored.

The Athens Exchange (ATHEX) general index ended at 676.36 points, adding 1.43 percent to Wednesday’s 666.84 points. The large-cap FTSE-25 index expanded 1.13 percent to 1,779.31 points, while the mid-caps index contracted 0.45 percent.

The banks index advanced 8.31 percent, as Piraeus rebounded by 9.23 percent, National increased 8.97 percent, Eurobank grew 8.57 percent and Alpha climbed 7.63 percent.

Public Power Corporation was unable to retrieve more than 0.86 percent following its 6.67-percent drop on Wednesday. Motor Oil improved 4.16 percent and Mytilineos ascended 2.92 percent, as Titan Cement slumped 3.29 percent and Coca-Cola HBC fell 2.60 percent.

In total 45 stocks rose, 35 took losses and 32 remained unchanged.

Turnover came to 90.4 million euros, down from Wednesday’s 100.8 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.61 percent to close at 71.37 percent.

Online