ECONOMY

Late buying spree sees index reverse early losses

Despite observer expectations for a drop, the main index of the Greek stock market closed with gains on Monday after a late buying flurry that reversed losses of up to 1.65 percent.

The Athens Exchange (ATHEX) general index eventually ended the day at 649.55 points, expanding by 0.71 percent from Friday?s closing figure of 644.94 points.

The blue chip FTSE/ATHEX 20 index grew by 0.93 percent to close at 250.76 points.

Eurobank EFG led the blue chip gainers, rising 4.94 percent, followed by Titan cement (up 3.98 percent). Marfin Investment Group gave up 2.70 percent and Duty Free Shops declined by 2.17 percent.

In total, 65 stocks registered gains, 86 posted losses and 17 remained unchanged.

Turnover amounted to just 22.4 million euros, down from Friday?s 27.9 million.