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.