ECONOMY

ATHEX: Banks keep driving stock index higher

athex-banks-keep-driving-stock-index-higher

The expected approval of a 1-billion-euro disbursement to Athens by Friday's Eurogroup, after Wednesday’s favorable European Commission report, secured further gains for the majority of stocks at Athinon Avenue, which was accompanied by the continuing decline of Greek bond yields. The stock benchmark climbed to its highest level in almost eight months, just short of 750 points.

The Athens Exchange (ATHEX) general index ended at 749.40 points, adding 0.80 percent to Tuesday’s 743.46 points. The large-cap FTSE-25 index expanded 0.51 percent to 1,934.41 points.

The banks index jumped 3.48 percent, with National soaring 5.89 percent, Alpha earning 4.77 percent and Piraeus climbing 3.67 percent, while Eurobank slipped 0.07 percent.

OTE telecom improved 1.50 percent and Motor Oil ascended 1.44 percent, as GEK Terna conceded 1.51 percent, the OPAP gaming company slid 1.29 percent and Titan Cement lost 1.13 percent.

In total 52 stocks registered gains, 44 suffered losses and 35 remained unchanged.

Turnover amounted to 58.6 million euros, down from Tuesday’s 65.1 million.

In Nicosia the Cyprus Stock Exchange advanced 1.34 percent to close at 66.56 points.