National Bank leads main bourse index to new highs

The prospect of the sale of National Bank’s real estate management subsidiary Pangaia saw bank stocks rise and drive the entire stock market higher in a session of notable turnover on Tuesday.

The Athens Exchange (ATHEX) general index closed at 1,110.45 points, adding 1.46 percent to Monday’s 1,094.45 points. The large-cap FTSE/ATHEX 25 expanded by 1.47 percent to end at 370.03 points.

The banks’ index soared by 8 percent, with National climbing by 10.64 percent, Alpha adding 6.58 percent and Piraeus expanding by 5.84 percent. Marfin Investment Group grew by 6.21 percent to lead non-banking blue chips.

Titan cement led losers with a decline of 4.37 percent, while Terna Energy shrank by 2.03 percent.

In total, 78 stocks registered gains, 66 sustained losses and 26 remained unchanged.

Turnover rose to 131 million euros from Monday’s 112.1 million.