Investor confidence appears to be returning gradually to local banks, with their stocks outperforming on Tuesday on the Athens bourse and the market’s benchmark climbing for a fourth consecutive day – a performance unseen since October. Persistently low turnover shows that it only takes a handful of buyers to sway the market’s course.
The Athens Exchange (ATHEX) general index closed at 626.13 points, adding 0.89 percent to Monday’s 620.60 points. The large-cap FTSE-25 index expanded 0.76 percent to 1,637.25 points and mid-caps stood out again, rising 1.99 percent.
The banks’ index capitalized on the few buyers in action to climb 3.73 percent. Piraeus jumped 5.07 percent, Alpha grew 4.16 percent, National increased 3.17 percent and Eurobank grabbed 3.10 percent. Grivalia Properties improved 2.82 percent and Motor Oil contracted 1.64 percent.
In total 61 stocks secured gains, 20 took losses and 33 stayed unchanged.
Turnover amounted to 30.6 million euros, up from Monday’s 23.7 million.
In Nicosia the Cyprus Stock Exchange general index declined 1.19 percent to close at 65.49 points.