ATHEX: Bank stocks are set to bounce

ATHEX: Bank stocks are set to bounce

The benchmark at Athinon Avenue sank temporarily below 800 points during on Tuesday’s session but reclaimed the psychological mark before the end of trade. While banks led blue chips to another session of losses, mid-caps jumped 3.01 percent, and the majority of stocks ended up with gains.

The Athens Exchange (ATHEX) general index closed at 805.58 points, shedding 0.23 percent from Monday’s 807.44 points. The large-cap FTSE-25 index contracted 0.56 percent to 2,061.39 points.

The banks index gave up 0.73 percent, but the positive results announced by Alpha after the trading session will likely see the index rebound on Wednesday. On Tuesday Alpha dropped 1.84 percent and Piraeus continued its slump, down 4.15 percent, just as National earned 1.89 percent and Eurobank advanced 0.76 percent.

ADMIE Holdings rose 2.45 percent and OPAP improved 2.16 percent.

In total 64 stocks posted gains, 42 took losses and 35 stayed unchanged.

Turnover amounted to 61 million euros, up from Monday’s 32.6 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.41 percent to 68.39 points.

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