ECONOMY

ATHEX: Benchmark nears 700 points on bank gains

athex-benchmark-nears-700-points-on-bank-gains

Buying interest focused on bank stocks at the Greek bourse on Monday, resulting in major gains for the sector and the benchmark, which is edging ever closer to the 700-point level, although the majority of stocks headed south.

The Athens Exchange (ATHEX) general index closed at 686.77 points, adding 1.46 percent to Friday’s 676.87 points. The large-cap FTSE-25 index expanded 1.16 percent to 1,806.75 points, while small-caps contracted 0.52 percent.

The banks index soared 7.25 percent, its biggest advance in 2019, with Piraeus jumping 11.45 percent, National improving 8.10 percent, Alpha earning 6.92 percent and Eurobank growing 6.13 percent. Grivalia Properties, whose absorption was approved on Monday by Eurobank, rose 3.94 percent.

In total 50 stocks went up, 52 came down and 40 stayed put.

Turnover was the highest of the last 56 sessions, amounting to 83.5 million euros, up from Friday’s 40.1 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.50 percent to 60.67 points.