ECONOMY

ATHEX: Healthy gains for main bourse index after eight straight days of losses

athex-healthy-gains-for-main-bourse-index-after-eight-straight-days-of-losses

After eight sessions of continuous decline, the Greek stock market enjoyed a rare day of healthy gains on Friday, with banks leading the way at Athinon Avenue as the farmers passed the bourse building on their way to protest the government’s planned measures in the city center. The rebound seen across most European markets after the Deutsche Bank debt buyback announcement and the deal between two of Greece’s biggest supermarket chains helped rising stocks outnumber falling ones by almost two to one.

The Athens Exchange (ATHEX) general index closed at 454.29 points, adding 3.04 percent to Thursday’s 440.88 points. The large-cap FTSE 25 index expanded 4.63 percent to end at 119.41 points.

The banks index soared 16.50 percent, with National climbing 25 percent, Piraeus rising 20.99 percent, Alpha grabbing 13.79 percent and Eurobank up 10.20 percent.

Ellaktor grew 11.46 percent and Lamda Development gained 9.54 percent, while Piraeus Port Authority conceded 2.33 percent and Grivalia Properties gave up 2.11 percent.

In total 69 stocks posted gains, 39 suffered losses and 18 closed unchanged. Turnover amounted to 52.3 million euros, down from Thursday’s 73 million.

In Nicosia the general index of the Cyprus Stock Exchange fell 0.77 percent to 64.71 points.