ECONOMY

Banks stocks run out of steam after spurt of early gains

The upward trajectory of most bank stocks at the opening on the local bourse on Wednesday didn’t last, and lenders’ gains only just managed to keep the market’s benchmark index in positive territory at the end of the session.

The Athens Exchange (ATHEX) general index closed at 952.78 points, edging up 0.18 percent from Tuesday’s 951.05 points.

The large-cap FTSE/ATHEX-25 index expanded by a more respectable 0.58 percent, ending at 324.29 points.

Piraeus Bank outperformed with a rise of 6.90 percent and Eurobank grew by 6.14 percent, while Viohalco gave up 5.11 percent.

In total 84 stocks registered gains, 72 posted losses and 19 stayed put.

Turnover amounted to 47.2 million euros, against Tuesday’s 67 million.