ECONOMY

Greek stocks stage some recovery

The prime minister’s pledge to Bloomberg to fulfill Greece’s obligations to its creditors and the support expressed for Athens by the US president and the French finance minister over the weekend altered the mood on the local market on Monday and allowed the benchmark to recover some of the ground it lost last week.

The Athens Exchange (ATHEX) general index closed at 755.42 points, adding 4.64 percent to Friday’s 721.93 points. The large-cap FTSE/ATHEX 25 index expanded 1.66 percent to end at 225.67 points, although small-caps earned just 0.28 percent.

Banks led the recovery effort as their sectoral index rebounded by 6.64 percent on Monday, with Eurobank growing 14.55 percent and National rising 9.19 percent. GEK Terna augmented by 13.71 percent.

Despite the general growth trend, Grivalia Properties gave up 2.53 percent and Coca Cola HBC lost 1.46 percent.

In total 92 stocks reported gains, 34 sustained losses and 11 remained unchanged.

Turnover came to 114.2 million euros, down from last Friday’s 145 million.