BUSINESS

ATHEX: Banks buoy benchmark back above 700 points

TAGS: Stocks

The government’s scolding by the International Monetary Fund and the Eurogroup at the start of the week came as no surprise to local investors, who set the Greek stock market back on the rising course of the last couple of months on Tuesday, taking the benchmark back above the psychologically important 700-point level.

The Athens Exchange (ATHEX) general index ended at 703.91 points, adding 1.06 percent to Friday’s 696.56 points. The large-cap FTSE-25 index expanded 1.35 percent to 1,843.29 points, while small caps contracted 0.13 percent.

The banks index jumped 3.73 percent, with Alpha soaring 6.50 percent, Eurobank improving 2.34 percent, National earning 1.36 percent and Piraeus up 1.09 percent. Jumbo’s strong six-month results saw its stock climb 3.48 percent.

In total 51 stocks went up, 34 posted losses and 31 stayed put.

Turnover came to 58.6 million euros, up from last Friday’s 40.1 million.

In Nicosia the Cyprus Stock Exchange general index decreased 1.25 percent to 61.81 points.

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