ECONOMY

ATHEX: Remarkable gains despite thin trade

athex-remarkable-gains-despite-thin-trade

Greek traders seemed to respond to the heat wave on Monday, swimming well in shallow waters, as the local stock market posted significant gains on very limited turnover. Banks and a few select blue chips led the way, as international markets were boosted by news of a possible breakthrough in terms of a coronavirus vaccine.

The Athens Exchange (ATHEX) general index ended at 609.52 points, adding 2.74% to Friday’s 593.26 points. The large-cap FTSE 25 index expanded 3.08% to 1,463.99 points.

The banks index advanced 5.77%, with Eurobank soaring 11.65%, National grabbing 3.48%, Alpha earning 2.99 percent and Piraeus improving 2.83%.

All blue chips recorded growth, as Public Power Corporation increased 7%, Viohalco augmented 5.52%, Aegean Air collected 5.42%, Mytilineos grew 5% and Hellenic Petroleum was up 3.68%.

In total 72 stocks enjoyed gains, 25 endured losses and 25 remained unchanged.

Turnover amounted to 34.1 million euros, down from last Friday’s €52.5 million. The end to the ban on short-selling should boost trading as of Tuesday.

In Nicosia, the general index of the Cyprus Stock Exchange edged up 0.02% to close at 46.52 points.