BUSINESS

ATHEX: Benchmark rises despite bank decline

TAGS: Stocks

Despite the pressure on banks at the Greek bourse on Tuesday that looked as though it might drag the benchmark lower still, most of the rest of the market posted healthy gains that saw the main index come off a four-year low, on improved turnover too.

The Athens Exchange (ATHEX) general index ended at 491.94 points, adding 1.56 percent to Monday’s 484.40 points. The large-cap FTSE 25 index contracted 0.45 percent to 1,189.45 points.

Τhe banks index declined 6.91 percent following the announcement by local lenders regarding the suspension of corporate loan repayments for six months (except for the interest due). Alpha dropped 12.60 percent, Eurobank fell 10.53 percent and Piraeus eased 0.60 percent, while National jumped 7.53 percent.

GEK Terna outperformed, soaring 17.85 percent, followed by Piraeus Port Authority (up 14.64 percent) and EYDAP (10.80 percent).

In total 79 stocks registered gains, 27 sustained losses and 17 remained unchanged.

Turnover amounted to 98 million euros, up from Monday’s 63.3 million.

The general index of the Cyprus Stock Exchange shrank 0.79 percent to close at 49.06 points.

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