ECONOMY

Momentum takes bourse index to 1,245 points

The Greek bourse began the month of June with yet another session of healthy gains on the back of improved first-quarter corporate results along with growing confidence in the local market on the day that Eurobank and Viohalco returned to the blue chip index. Turnover remained above 200 million euros.

The Athens Exchange (ATHEX) general index closed at 1,245.15 points, adding 1.77 percent to Friday’s 1,223.48 points.

The blue chip FTSE/ATHEX 25 expanded 1.61 percent to 402.35 points.

Stocks are admittedly beating expectations, with eight sessions of gains in the last nine.

Observers note that if this unlikely momentum takes the benchmark above the 1,260-point level in the short term, then a long-term rally cannot be ruled out.

Hellenic Petroleum was the undisputed protagonist of Monday’s session, rising by 9.64 percent, ahead of Titan Cement (up 6.26 percent) and Eurobank Properties (4.46 percent). Viohalco ended up with losses of 2.99 percent.

In total 78 stocks registered gains, 60 sustained losses and 16 remained unchanged.

Turnover amounted to 227.5 million euros, against last Friday’s 807 million.