ECONOMY

Benchmark index heads up after three-day slide

The local bourse’s southbound course over the previous three sessions ended on Wednesday with the benchmark inching up, helped on by banks and Coca-Cola HBC, albeit on significantly reduced turnover. Winners and losers were almost evenly split.

The Athens Exchange (ATHEX) general index closed at 930.73 points, rising 0.79 percent from Tuesday’s 923.43 points. The large-cap FTSE/ATHEX-25 index also added 0.79 percent, ending at 300.13 points.

Banks outperformed, with their sectoral index adding 4.28 percent. With the stocks of Bank of Cyprus and Cyprus Popular Bank still suspended from trading, Alpha Bank – the favorite to absorb the Cypriot lenders’ branches in Greece – added 8.24 percent, Marfin Investment Bank grew 7.51 percent and Eurobank expanded by 7.30 percent.

Piraeus Bank saw the biggest volume of the day and climbed 5.65 percent, while Coca-Cola HBC added 1.56 percent. Frigoglass gave up 5.82 percent and Motor Oil declined by 4.04 percent.

In total 69 stocks registered gains, 68 recorded losses and 20 remained unchanged.

Turnover amounted to 53.9 million euros, down from Tuesday’s 71.7 million.