ATHEX: Banks lead index to new month-high

ATHEX: Banks lead index to new month-high

Bank stocks recorded healthy gains at the Greek stock market on Wednesday, helping the benchmark at Athinon Avenue reach a month-high as traders appeared to start buying with caution, but also with confidence. In a period of the year that is not usually associated with risks, the market is following economic and geopolitical developments with an eye on the period to follow the current tensions and might be ready to price in a post-war recovery for Europe in the context also of robust tourism expansion in Greece.

The Athens Exchange (ATHEX) general index closed at 834.85 points, adding 0.67% to Tuesday’s 829.26 points. The large-cap FTSE-25 index expanded 1.01% to close at 2,010.33 points.

The banks index stood out with its 2.68% advance, as Alpha rose 4.27%, Piraeus earned 2.55%, Eurobank grew 2.40% and National climbed 1.41%. Coca-Cola HBC collected 2.59%, but Ellaktor gave up 2.81%.

In total 52 stocks posted gains, 40 endured losses and 20 remained unchanged.

Turnover amounted to 38.8 million euros, up from Tuesday’s €34.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.50% to close at 67.80 points.

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