BUSINESS

ATHEX: Credit sector stocks buoy up benchmark

TAGS: Stocks

The Bank of Greece plan aimed at halving the nonperforming exposure backlog in the credit sector gave bank stocks a much needed boost on Tuesday, with most other blue chips bringing up the rear, although turnover dropped below the 50-million-euro mark.

The Athens Exchange (ATHEX) general index ended at 644.00 points, adding 1.39 percent to Monday’s 635.20 points. The large-cap FTSE-25 index expanded 1.40 percent to 1,698.31 points, while the small-cap index contracted 0.39 percent.

The banks index jumped 5.35 percent, led by Eurobank (up 8.93 percent) and National (5.45 percent). Alpha grew 3.89 percent and Piraeus improved 1.83 percent. Sarantis (up 4.73 percent) and Aegean Air (3.60 percent) outperformed among non-banking blue chips.

In total 58 stocks recorded gains, 23 sustained losses and 34 closed unchanged.

Turnover amounted to 42.8 million euros, down from Monday’s 55.2 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.46 percent to close at 67.63 points.

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