Bourse inches northward on high turnover

Pre-arranged deals for stake transactions dominated the week’s first day of trading in the Greek bourse, sending the daily turnover to just over 160 million euros and the benchmark index close to 1,120 points.

Yet when set packages are taken out, the net trading value appears particularly low, at just 73 million euros, which does not bode well for the sustainability of the bourse’s rising course.

he Athens Exchange (ATHEX) general index closed at 1,119.36 points, growing by 0.92 percent from last Friday’s 1,109.20 points.

The large-cap FTSE/ATHEX 25 expanded by 1.09 percent to end at 372.69 points, while the small-cap index contracted by 0.13 percent.

Remarkably the domestic market remains unaffected by the reported clash between the government and its creditors on the course of the country’s finances and by turbulence in the United States, to begin another week in positive territory.

OTE telecom led the way with a rise of 4.14 percent, ahead of National bank (up 3.91 percent) and Piraeus Bank (3.45 percent).

Jumbo declined by 3.01 percent and Hellenic Exchanges gave up 2.31 percent.

In total, 73 stocks registered gains, 64 recorded losses and 19 remained unchanged.