ATHEX: Investors get ready for rebalancing
On a day when Wall Street and the London Stock Exchange remained closed, the Greek bourse secured a rather satisfactory turnover of almost 50 million euros on Monday, with traders opting to position themselves ahead of this Friday’s upcoming index rebalancing. Leading the benchmark to strong gains were bank stocks, which were oversold in previous sessions.
The Athens Exchange (ATHEX) general index ended at 624.32 points, adding 2.48% to Friday’s 609.20 points. The large-cap FTSE 25 index expanded 2.89% to 1,452.48 points, while the mid-cap index slipped 0.09%.
The banks index jumped 6.67%, as National soared 9.47%, Eurobank grew 8.13%, Piraeus advanced 4.51% and Alpha earned 3.92%.
Public Power Corporation grabbed 6.70%, Coca-Cola HBC augmented 5.02%, EYDAP moved up 4.17%, Motor Oil fetched 3.20% and Titan Cement collected 3.17%, while Aegean Air decreased 0.45% and Mytilineos eased 0.28%.
In total 55 stocks rose, 39 took losses and 26 stayed put. Turnover came to €49.2 million, down from Thursday’s €52.7 million.
In Nicosia, the general index of the Cyprus Stock Exchange closed unchanged on Monday at 47.25 points.