ECONOMY

ATHEX: Afternoon’s buyers boost stock market

athex-afternoon-s-buyers-boost-stock-market

The second half of Wednesday’s bourse session in Athens saw the return of buyers, who focused on certain blue chips like banks and oversold Public Power Corporation, but also Lamda Development and Mytilineos, on the back of important corporate developments.

The Athens Exchange (ATHEX) general index ended at 868.01 points, adding 1.41 percent to Tuesday’s 855.91-point closing. The large-cap FTSE-25 index expanded 1.55 percent to end at 2,151.68 points.

The banks index rose 1.76 percent, with National advancing 3.88 percent, Piraeus grabbing 3.44 percent, Eurobank collecting 1.66 percent and Alpha improving 0.12 percent.

PPC rebounded 4.62 percent and Viohalco augmented 3 percent. Lamda fetched 2.01 percent to get close to an 11-year high after the Council of State removed two obstacles to the development at Elliniko, and Mytilineos grew 2.95 percent on news about the planned construction of a major power plant in central Greece.

In total 81 stocks boasted gains, 32 sustained losses and 21 stayed put.

Turnover amounted to 83.3 million euros, up from Tuesday’s 58.9 million.

In Nicosia the general index of the Cyprus Stock Exchange decreased 0.51 percent to close at 70.77 points.