ATHEX: Banks index grows 24 pct in 5 sessions

ATHEX: Banks index grows 24 pct in 5 sessions

The fifth consecutive session of gains for the Greek stock benchmark took it above the 550-point level, albeit on another day of very thin trading. The banks index continued on its northbound course that has seen it add 24.3 percent in the last five sessions, helped also by a prospective easing of capital controls and the comment by Moody’s that the Greek economy is more stable now that the bailout review has been completed.

The Athens Exchange (ATHEX) general index closed at 551.92 points, adding 0.70 percent to Monday’s 548.09 points. The large-cap FTSE 25 index expanded 1.12 percent to end at 1,489.22 points. Small-caps gave up 0.10 percent.

Banks rose 2.70 percent, with Eurobank climbing 4.50 percent, Piraeus grabbing 3.33 percent and Alpha up 2.94 percent. Public Power Corporation outperformed, gaining 4.58 percent, while Ellaktor declined 3.45 percent and METKA fell 2.51 percent.

In total 49 stocks recorded gains, 42 posted losses and 25 remained unchanged.

Turnover amounted to 44.3 million euros, up from Monday’s 35.6 million. In the last five sessions total turnover has come to just 193 million.

In Nicosia the general index of the Cyprus Stock Exchange inched up 0.14 percent to close at 65.62 points.

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