ATHEX: Stocks post modest gains of 1.29 percent

ATHEX: Stocks post modest gains of 1.29 percent

The enthusiasm at the start of Wednesday’s stock market session evaporated quickly due to traders cashing in on morning gains. The banks index soared 7.10 percent before settling for more moderate growth of 2.72 percent at the end of the day.

The Athens Exchange (ATHEX) general index closed at 551.31 points, climbing 1.29 percent from Tuesday’s 544.30 points. The large-cap FTSE 25 index expanded 1.79 percent to end at 150.53 points, while small-caps gave up 1.97 percent.

All but four blue chips headed north, as Piraeus Bank advanced 6.71 percent, and Eurobank, Mytilineos, National Bank, OTE telecom, Terna Energy and Hellenic Petroleum all chalked up gains of between 3 and 3.50 percent. Construction companies Ellaktor and Lamda Development dropped 2.21 percent and 0.76 percent respectively.

In total 66 stocks enjoyed gains, 35 sustained losses and 12 ended unchanged.

Turnover amounted to 51.4 million euros, up from Tuesday’s 48.4 million euros.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.07 percent to 67.60 points.

The last bourse session of the week will take place on Thursday and the market will reopen after the Western Easter, on Tuesday, March 28.

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