ECONOMY

Bourse index stages impressive rebound

The brave positioning of certain stock market traders at midsession and the rumors that National and Eurobank might find a formula to retain their private status after all propelled the Greek bourse’s main index to an unexpected rebound on Monday to emerge from just below 800 points (799.04) and end the day with gains.

The Athens Exchange (ATHEX) general index closed at 829.08 points, adding 0.74 percent to Friday’s 822.95 points. The large-cap FTSE/ATHEX-25 expanded by 1.01 percent to 266.28 points.

Eurobank ended the day with growth of 20 percent with several purchase orders remaining unexecuted in the end. The stock amazingly produced both a limit-down and a limit-up in the same session (30 percent each way) to settle for significant gains in the end.

National had the biggest trading volume of the last 11 months, eventually shedding 10.38 percent, having also bottomed out from the morning’s drop of 30 percent.

Contributing to the benchmark’s rebound were OTE telecom (up 5.32 percent) and Public Power Corporation (4.07 percent).

In total 47 stocks posted gains, 90 sustained losses and 21 stayed put.

Turnover rose to 56.2 million euros from last Friday’s 38.3 million.