ATHEX: Positive momentum continues

The sixth consecutive session of gains for the Greek bourse, a sequence unseen in three months, brought the benchmark above the 2,100-point level on Wednesday and up to a seven-week high. Banks led the price growth, with the closing auctions adding significantly to stock gains and the day’s turnover. While bank stocks are considered the safest bet, a number of other blue chips and mid-caps are more volatile and are seen more likely to bring higher returns in the short term.

The Athens Exchange (ATHEX) general index closed at 2,106.90 points, adding 0.94% to Tuesday’s 2,087.20 points. The large-cap FTSE-25 index expanded 1.30%, ending at 5,343.28 points, though mid-caps contracted 4.89% on Intralot falling 17.27%.

The banks index augmented 2.47%, as Eurobank earned 3.62%, National improved 3.38%, Piraeus grabbed 2.31%, Bank of Cyprus climbed 1.50% and Alpha obtained 0.86%.

In total 51 stocks enjoyed gains, 59 showed losses and 16 remained unchanged.

Turnover amounted to 309.5 million euros, up from Tuesday’s €224.1 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.11% to 277.38 points.