ECONOMY

ATHEX: Banks buoy stock index to a new 58-month high

athex-banks-buoy-stock-index-to-a-new-58-month-high

The upcoming lifting of the cap on Greek bonds held by local banks not only boosted state bonds and credit sector stocks in Athens on Wednesday but also the benchmark at Athinon Avenue, which climbed to highs unseen since February 2015, while turnover continued to rise.

The Athens Exchange (ATHEX) general index ended at 905.64 points, adding 1.25 percent to Tuesday’s 894.49 points. The large-cap FTSE 25 index expanded 1.47 percent to 2,278.11 points.

The banks index increased 1.20 percent, with Alpha ascending 1.60 percent, National earning 1.48 percent, Eurobank growing 0.98 percent and Piraeus grabbing 0.34 percent, as Attica sank 6.82 percent. Lamda Development soared 5.91 percent.

In total 67 stocks posted gains, 31 took losses and 28 stayed put.

Turnover was the highest of the last 16 sessions, amounting to 106.9 million euros, up from Tuesday’s 102.2 million.

In Nicosia the general index of the Cyprus Stock Exchange slipped 0.24 percent to 65.37 points.