ECONOMY

Banks, CCHBC see bourse add further gains

While losing stocks were in the majority throughout Thursday’s bourse session and the benchmark index bounced from negative to positive territory 10 times, the market finally posted further considerable growth as the index added more than 20 points on ever-improving turnover.

The Athens Exchange (ATHEX) general index closed at 1,134.28 points, up 1.85 percent on Wednesday’s 1,113.67 points. The large-cap FTSE/ATHEX-25 index expanded by 2.80 percent to end at 395.08 points. However, small-caps registered a 0.23 percent decline.

The bank stock rally continued unabated, with the main lenders having seen their stocks rise by between 202 percent (National Bank) and 294 percent (Eurobank) from the lows recorded in early April.

On Thursday National added 19.05 percent, Piraeus grew by 16.16 percent and Eurobank rose 12.79 percent, while Alpha gave up 3.15 percent. Coca-Cola HBC jumped 4.35 percent after announcing it had contained its losses in Q1 by 17 percent compared to the same period last year.

In total 78 stocks posted gains, 81 suffered losses and 24 stayed put.

Turnover amounted to 148.2 million euros, up from Wednesday’s 143.8 million.