ECONOMY

ATHEX: Market greets stress test results with enthusiasm

athex-market-greets-stress-test-results-with-enthusiasm

The results of the European Central Bank stress tests on the local credit sector were greeted by a spectacular 16.05 percent rise of the banks index on the Greek bourse, with the benchmark starting the week and the month with an increase of more than 3 percent.

The Athens Exchange (ATHEX) general index closed at 722.80 points, adding 3.08 percent to Friday’s 701.22 points. The large-cap FTSE 25 index expanded 3.60 percent, ending at 217.03 points, although small-caps headed in the other direction, slipping 1.74 percent.

Now that the capital requirements have been published, it is up to investors to live up to their pledges to get involved in the banks’ share capital increases, and they appear quite eager to do so: Eurobank grew 29.03 percent, Alpha advanced 28.70 percent and Piraeus rose 18.28 percent. Lamda Development fell 1.96 percent.

In total 66 stocks posted gains, 25 went down and 20 ended unchanged.

Turnover amounted to 45.4 million euros, down from last Friday’s 47.8 million.