ECONOMY

ATHEX: Banks index up 7.6 percent on optimism

athex-banks-index-up-7-6-percent-on-optimism

A pretty good feeling that the results of the banks’ stress tests will translate into manageable capital requirements led to major gains for bank chips on Tuesday, and the Greek bourse closed with notable growth for the benchmark ahead of Wednesday’s national holiday.

The Athens Exchange (ATHEX) general index closed at 727.38 points, adding 1.30 percent to Monday’s 718.04 points. The large-cap FTSE 25 index expanded 1.15 percent ending at 219.71 points.

An optimistic statement regarding the stress tests by a senior Bank of Greece official to Reuters sent the banks index up 7.61 percent, with by Eurobank leading the way(up 9.68 percent). Piraeus gained 8.70 percent, National increased 8.45 percent and Alpha rose 4.51 percent.

Among non-bank blue chips, GEK Terna outperformed with a 5.88 percent increase, Ellaktor jumped 5.41 percent and Hellenic Exchanges rose 3.61 percent.

OTE telecom (down 1.53 percent) and Coca-Cola HBC (0.96 percent) spent the entire day in the red.

In total 60 stocks reported gains, 29 sustained losses and 20 remained unchanged.

Turnover amounted to 39.1 million euros, up from Monday’s 35.3 million.