ATHEX: Banks send benchmark even higher

ATHEX: Banks send benchmark even higher

Banks supported the fresh increase of the Greek bourse benchmark to another eight-year high on Wednesday, as the trend of the local market remains upward in spite of the odd case of cashing in the significant gains of the last few weeks. Some more extensive profit-taking appears overdue, but buyers continue to have reasons for raising stock prices. The drop in inflation and the measured US Fed rate hike are some of the latest reasons.

The Athens Exchange (ATHEX) general index closed at 1,027.25 points, adding 0.43% to Tuesday’s 1,022.82 points. The large-cap FTSE-25 index expanded 0.81% to end up at 2,495.80 points, though mid-caps contracted 0.36%.

The banks index advanced 2.40%, as Eurobank grabbed 3.67%, Alpha advanced 2.94% and National earned 2%, while Piraeus gave up 0.95%.

Viohalco dropped 2.68% and Sarantis lost 2.60%.

In total 55 stocks notched up gains, 56 recorded losses and 16 remained unchanged.

Turnover amounted to 105.4 million euros, down from Tuesday’s €156 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.04% to close at 98.23 points. 

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