ECONOMY

ATHEX: Oil recovery boosts stocks

athex-oil-recovery-boosts-stocks

Having started the day with significant losses in line with the drop observed on Asian markets and the sour mood in Europe, the benchmark of the Greek bourse staged an impressive rebound in later trade, as was also the case on most European stock markets, fueled largely by a recovery in the price of crude oil.

The Athens Exchange (ATHEX) general index closed at 546.22 points, adding 2.15 percent to Monday’s 534.72 points. The large-cap FTSE 25 index expanded 2.39 percent to end at 152.12 points.

The banks index enjoyed a rise of 3.99 percent, with Piraeus growing 5.52 percent, Alpha increasing 5 percent, Eurobank climbing 2.49 percent and National Bank up 2.35 percent.

Among blue chips, Hellenic Petroleum posted the biggest rise (6.04 percent), followed by Folli Follie (5.66 percent), while EYDAP lost 2.28 percent and Grivalia Properties gave up 1.66 percent.

In total 61 stocks registered gains, 40 suffered losses and 15 ended unchanged.

Turnover amounted to 67.8 million euros, up from Monday’s 45.7 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.95 percent to 66.74 points.