BUSINESS

ATHEX: Credit sector helps bourse index higher

TAGS: Stocks

The flexibility that the credit sector has secured from the European Central Bank and the reserved optimism that the restriction measures in Greece are bearing fruit, amid more handout pledges by the government, saw the local stock market head higher on Monday in a relatively calm environment for global securities.

The Athens Exchange (ATHEX) general index ended at 558.70 points, adding 1.43 percent to Friday’s 550.85 points. The large-cap FTSE 25 index expanded 1.78 percent to 1,348.98 points and the mid-cap index contracted 0.20 percent

The banks index advanced 5.03 percent, as National moved 8.31 percent higher, Eurobank earned 4.79 percent, Alpha grabbed 3.85 percent and Piraeus climbed 3.09 percent.

Hellenic Exchanges outperformed, increasing 5.97 percent, and Jumbo improved 4.96 percent. Viohalco lost 6.69 percent after steel units were forced to suspend operations.

In total 56 stocks rose, 34 fell and 26 remained unchanged.

Turnover came to 47.2 million euros, down from last Friday’s 58.5 million.

The general index of the Cyprus Stock Exchange slipped 0.25 percent to close at 47.74 points.

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