STOCKS

ATHEX: Index hits highs unseen in two years

athex-index-hits-highs-unseen-in-two-years

Monday’s stock growth momentum strengthened on Tuesday, this time with a more universal advance in prices and on even higher turnover, leading the Athinon Avenue benchmark rather unexpectedly to a two-year high. Market experts note that investors may be buying into an upcoming credit rating upgrade and a successful bond issue over the coming days, as well as riding the wave of growth across the rest of the eurozone’s markets.

The Athens Exchange (ATHEX) general index closed at 934.61 points, the highest since January 2020, adding 1.76% to Monday’s 918.41 points. The large-cap FTSE-25 index expanded 2.10%, ending at 2,261.34 points.

The banks index grew 3.11%, as Alpha jumped 4.24%, Piraeus grabbed 2.87%, National collected 2.75% and Eurobank augmented 2.35%. Jumbo climbed 3.65% and Ellaktor earned 3.52%, while ElvalHalcor eased 1.04%.

In total 78 stocks posted gains, 35 took losses and 14 remained unchanged.

Turnover amounted to 115.6 million euros, up from Monday’s €99.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.16% to close at 67.75 points.