STOCKS

ATHEX: Index rises to highest point since Feb 23

ATHEX: Index rises to highest point since Feb 23

The main index of the Athens bourse rose on Wednesday to its highest point since the outbreak of the war in Ukraine, thanks to a combination of factors such as expectations regarding the minimum wage increase that was announced later in the day, the drop in bond yields and a series of corporate transactions and results issued. Banks led the way higher, while turnover was boosted by a Mytilineos share package transfer.

The Athens Exchange (ATHEX) general index closed at 940.69 points, adding 1.54% to Tuesday’s 926.41 points. The large-cap FTSE-25 index expanded 1.88%, ending at 2,285.42 points.

The banks index soared 4.90%, with Piraeus (up 8.21%) and Alpha (7.12%) standing out, as Eurobank earned 3.72% and National collected 2.52%.

Coca-Cola HBC rose 4.01% ElvalHalcor was up 3.18% and Aegean Airlines advanced 2.40%, but Jumbo declined 4.46%.

In total 69 stocks reported gains, 28 sustained losses and 18 remained unchanged.

Turnover amounted to 185 million euros, up from Tuesday’s €101.5 million.

In Nicosia the general index of the Cyprus Stock Exchange increased 1.53% to close at 69.17 points.