ATHEX: Stocks fend off PPC pressure


French support for the cause of easing Greece’s debt burden, as expressed by France’s Economy Minister Bruno Le Maire, gave the Athens bourse benchmark enough of a push to shake off the Public Power Corporation pressure on Monday, with the vast majority of stocks notching up gains.

The Athens Exchange (ATHEX) general index closed at 784.60 points, adding 0.32 percent to Friday’s 782.10 points. The large-cap FTSE 25 index also expanded 0.32 percent, to 2,079.52 points.

Banks helped the benchmark climb with their 1.48 percent sectoral increase. Eurobank led the way (up 4.09 percent), followed by Piraeus (2.40 percent).

PPC predictably slumped, conceding 6.97 percent in the aftermath of the Amyntaio landslide that has inflicted losses on the energy giant totaling hundreds of millions of euros. Construction company Ellaktor gave up 3.57 percent.

In total 61 stocks posted gains, 36 registered losses and 22 closed unchanged.

Turnover amounted to 46 million euros, up from Friday’s 43.1 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.09 percent to 76.32 points.