ECONOMY

Late rally sees main bourse index reverse early losses

On a day when just about everyone had expected the Greek bourse to post a correction after seven consecutive sessions of growth for its benchmark index, stocks staged a late rally on Thursday, reversing earlier losses, to make it eight out of eight.

The Athens Exchange (ATHEX) general index closed at 984.85 points, expanding by just 0.10 percent from Wednesday’s 983.91 points. The large-cap FTSE/ATHEX-25 index also added 0.10 percent, rising to 336.53 points.

Most banks headed south (Alpha gave up 3.11 percent), but the strong rebounds recorded by OPAP (up 7 percent) and Public Power Corporation (up 1.11 percent) turned things around and saw the blue chip index remain afloat. Jumbo took the biggest hit, falling 4.44 percent.

In total 97 stocks registered gains, 84 showed losses and 17 stayed unchanged.

Turnover amounted to 67.9 million euros, down from Wednesday’s 72.5 million.