ECONOMY

ATHEX: Corporate developments buoy stock market

athex-corporate-developments-buoy-stock-market

After a mixed session with gains for most stocks and banks leading the losers, the benchmark at Athinon Avenue reported marginal growth on Thursday, based on corporate developments.

The Athens Exchange (ATHEX) general index ended at 602.47 points, adding 0.30 percent to Wednesday’s 600.67 points. The large-cap FTSE 25 index contracted 0.41 percent to 1,454.03 points, though mid-caps expanded 1.16 percent and the banks index declined 0.99 percent.

Coca-Cola HBC, which posted a 0.3 percent decline in sales in the first quarter of the year, fell 2.33 percent, while Mytilineos, which reported an annual rise in its Q1 sales to 532.7 million euros, enjoyed a 2.76 percent advance for its stock. Lamda Development (up 7.93 percent) and GEK Terna (up 7.21 percent) benefited from the Council of State decision against Hard Rock regarding the Elliniko casino.

In total 50 stocks registered gains, 41 suffered losses and 22 remained unchanged.

Turnover amounted to 41.5 million euros, down from Wednesday’s €44.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.29 percent to close at 47.91 points.