Greek stocks came off a two-month low on Tuesday to record gains as the market appeared fairly oversold and the geopolitical tensions eased further with Ankara pressing the “pause” button on operations affecting Greece. However, the price rise failed to meet earlier expectations and banks closed some way off their highs for the day, leaving it to non-bank blue chips to take the market higher at closing.
The Athens Exchange (ATHEX) general index ended at 633.62 points, adding 1.20% to Monday’s 626.08 points. The large-cap FTSE 25 index expanded 1.17% to 1,528 points.
The banks index advanced 0.81%, with Eurobank earning 2.11% and Piraeus grabbing 0.90%, as Alpha stayed put and National slipped 0.04%.
Lamda Development improved 2.45%, Coca-Cola HBC increased 2.34% and Motor Oil collected 2.25%, while Athens Water (EYDAP) parted with 0.45%.
In total 61 stocks boasted gains, 33 counted losses and 22 remained unchanged.
Turnover amounted to 41.5 million euros, down from Monday’s €65.4 million.
In Nicosia, the general index of the Cyprus Stock Exchange recovered 0.55% to 45.82 points.