ATHEX: Stocks inch up as Brexit fears edge lower
Mild optimism about Thursday’s British referendum on EU membership prevailed again on most European markets on Wednesday, with Greek blue chips continuing their ascent although most other stocks at Athinon Avenue ended with losses.
The Athens Exchange (ATHEX) general index closed at 611.63 points, adding 0.55 percent to Tuesday’s 608.29 points. The large-cap FTSE 25 index expanded 1.35 percent to end at 1,689.41 points, but mid-caps slid 0.03 percent.
Along with Fitch’s positive report late on Tuesday, the anticipation of good news from the European Central Bank regarding the restoration of the cheap funding for local lenders helped bank stocks advance 1.75 percent. Piraeus added 4.55 percent and National rose 2.29 percent, while Alpha went up 0.91 percent and Eurobank edged 0.59 percent higher.
Among other blue chips, Jumbo increased 4.06 percent and Piraeus Port Authority dropped 2.87 percent.
In total 40 stocks registered gains, 54 took losses and 16 remained unchanged.
Turnover was the lowest of the last four sessions, amounting to 66.4 million euros, down from Tuesday’s 112.5 million.
In Nicosia the general index of the Cyprus Stock Exchange declined 0.89 percent to close at 68.67 points.
