ECONOMY

ATHEX: Stocks edge up in shadow cast by NBG

athex-stocks-edge-up-in-shadow-cast-by-nbg

There was much ado about nothing on the local bourse on Tuesday as the stock of National Bank of Greece accounted for more than half of the session’s trading volume but eventually ended unchanged. Meanwhile, the majority of stocks posted modest gains, with the benchmark inching higher.

The Athens Exchange (ATHEX) general index closed at 617.55 points, adding 0.36 percent to Monday’s 615.31 points. The large-cap FTSE 25 index expanded 0.04 percent to end at 179.57 points, with small-caps recording a 0.45 percent decline.

National was one of the three systemic lenders that saw their stock end Tuesday’s session without a change from Monday’s close, along with Alpha and Piraeus. Eurobank suffered a 0.96 percent fall, leading to a 0.22 percent drop for the bank index.

The large-cap with the biggest gains yesterday was Lamda Development, which advanced 3.57 percent, followed by Jumbo, up 3.19 percent. Grivalia Properties dropped 2.41 percent, METKA gave up 2.36 percent and OTE telecom fell 1.78 percent.

In total 62 stocks reported gains, 46 sustained losses and 12 remained unchanged.

Turnover amounted to 73.2 million euros (of which 39.43 million concerned National Bank), up from Monday’s 53 million.