ATHEX: Index rebound on local bourse

ATHEX: Index rebound on local bourse

The Greek stock market recovered on Wednesday from a two-day sell-off that saw banks shed over 12 percent of their stock value, as the benchmark jumped back above the 860-point level, albeit on lower trading volume. The market appears quite volatile, in contrast to the months leading up to the May 26 European elections.

The Athens Exchange (ATHEX) general index closed at 861.57 points, adding 2.50 percent to Tuesday’s 840.58 points. The large-cap FTSE-25 index expanded 1.81 percent to end at 2,150.64 points.

The banks index rebounded 4.55 percent, as Piraeus soared 7.63 percent, National grew 4.53 percent, Alpha gained 4.25 percent and Eurobank collected 3.49 percent. Mid-cap Attica Bank advanced 18.46 percent.

PPC, whose head Manolis Panagiotakis resigned on Wednesday, jumped 6.21 percent, but Coca-Cola HBC lost 1.27 percent.

In total 88 stocks recorded gains, 25 sustained losses and 18 closed unchanged.

Turnover reached 67.3 million euros, down from Tuesday’s 101.9 million.

In Nicosia the general index of the Cyprus Stock Exchange climbed 0.60 percent to close at 71.60 points.

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