ECONOMY

ATHEX: Index rises as credit stocks stage recovery

athex-index-rises-as-credit-stocks-stage-recovery

Bank stocks staged a full recovery on Thursday to take the benchmark higher for the first time this month, in line with the rise recorded in international markets. The credit sector closed near the day’s high, although turnover was lower than in previous days.

The Athens Exchange (ATHEX) general index ended at 869.47 points, adding 1.12 percent to Wednesday’s 859.81 points. The large-cap FTSE 25 index expanded 1.45 percent to 2,159.69 points.

The banks index rebounded 4.11 percent, as Eurobank grew 5.20 percent, Alpha earned 4.35 percent, Piraeus climbed 3.67 percent and National collected 2.50 percent.

Ellaktor improved 3.58 percent and Jumbo grabbed 2.89 percent, while Sarantis conceded 2 percent. OTE slipped 0.59 percent despite the increase in profits recorded in the third quarter.

In total 64 stocks reported gains, 34 posted losses and 21 closed unchanged.

Turnover amounted to 60.8 million euros, down from Wednesday’s 69.3 million.

In Nicosia the general index of the Cyprus Stock Exchange decreased 0.33 percent to close at 65.67 points.