ECONOMY

Bourse index grows by over a third in 2012

The benchmark index of the Greek bourse will start the new year on Wednesday from 907.90 points after adding on Monday to its gains for the year that amounted to 33.44 percent – a rather remarkable feat given the turmoil in the local political and economic scene.

The Athens Exchange (ATHEX) general index expanded by 0.73 percent from last Friday’s 901.36 points. The large-cap FTSE/ATHEX-25 grew by 0.17 percent to end at 309.68 points.

In the course of the year the main index had dropped as low as 476.36 points, which was on June 5, between the two general elections.

True to form for the year that saw the banks’ sectoral index give up some 14 percent, lenders’ stocks declined on Monday: National contracted by 4.44 percent, Piraeus lost 3.98 percent and Eurobank fell by 3.03 percent. The blue chip with the biggest capitalization in the market, Coca-Cola HBC enjoyed a rise of 4.73 percent.

In total 99 stocks recorded gains, 55 posted losses and 25 remained unchanged.

Sandwiched between holidays and lasting only until 3.20 p.m. on New Year’s Eve, Monday’s session saw its turnover amount to just 18.9 million euros, from 35.6 million on Friday.