ECONOMY

Bourse factors in progress in supporting European banks

Last week?s positive mood continued on Monday on the Greek bourse, with banks leading the way thanks to the market pricing in possible favorable developments for Cypriot, Spanish and other European lenders.

The Athens Exchange (ATHEX) general index ended at 894.01 points, adding 2.68 percent to Friday?s 870.64 points. The blue chip FTSE/ATHEX 20 index expanded by 3.61 percent to close at 336.52 points. The mid-cap FTSE-40 index rose above the landmark 1,000-point mark to 1,000.47 points.

Cyprus Popular Bank soared 28.89 percent, with Bank of Cyprus following (up 16.62 percent). Titan cement gave up 1.77 percent.

In total, 117 stocks posted gains, 51 registered losses and 13 remained unchanged.

Turnover came to 134.2 million euros, up from Friday?s 77.5 million.