ECONOMY

ATHEX: Stock growth continues as banks offer hefty returns

athex-stock-growth-continues-as-banks-offer-hefty-returns

The Greek bourse appears have found its way back onto a growth trajectory as it registered healthy gains again on Tuesday, largely thanks to the progress in talks between the government and the country’s creditors and the positive results posted by National Bank, and was completely unruffled by the southbound course of other European stock markets.

The Athens Exchange (ATHEX) general index closed at 579.30 points, adding 2.31 percent to Friday’s 566.20 points. The large-cap FTSE 25 index expanded 2.85 percent to end at 159.01 points, while small-caps declined 0.80 percent.

The bank index has gained no less than 140 percent in the last five weeks. It added 6 percent on Tuesday. Alpha Bank rose 5.26 percent to match the price of its share capital increase last fall (2 euros), while National climbed 3.49 percent. Eurobank outperformed, growing 9.97 percent.

In total 70 stocks posted gains, 32 took losses and 13 closed unchanged.

Turnover amounted to 100.2 million euros, up from last Friday’s 47.6 million.

In Nicosia the general index of the Cyprus Stock Exchange dropped 0.14 percent to 69.14 points.