BUSINESS

ATHEX: Bourse enjoys its best week in four years

TAGS: Stocks

The stock market braved its early losses and the drops on most other European bourses to revert to gains by the closing bell on Friday and see its benchmark register monthly gains of 7.37 percent in May. Public Power Corporation and banks led the price rebound, with turnover topping 150 million euros, as the positive momentum that started last Monday continued.

The Athens Exchange (ATHEX) general index closed at a new 12-month high of 830.24 points, adding 1.46 percent to Thursday’s 818.33 points. On a weekly basis it earned 13.42 percent, for its best week since the capital controls were introduced in June 2015.

The large-cap FTSE-25 index expanded 1.04 percent to end at 2,116.09 points, and the banks index climbed 3.52 percent. PPC jumped 8.68 percent, National improved 6.47 percent, Alpha rose 5.63 percent and ADMIE Holdings grew 3.89 percent, as Piraeus Port Authority conceded 2.44 percent.

In total 55 stocks posted gains, 50 headed lower and 30 ended unchanged.

Turnover amounted to 150.5 million euros, up from Thursday’s 130.1 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.43 percent to close at 70.60 points.

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