ECONOMY

ATHEX: Robust gains as banks post a rebound

athex-robust-gains-as-banks-post-a-rebound

The positive mood across the markets in the Northern Hemisphere on Tuesday, US election day, showed the European lockdowns have already been factored in to stock prices and traders are looking ahead to the next year, if not the next four. The jump by Greek bank stocks on Tuesday was testament to that, leading the benchmark to a third consecutive session of gains.

The Athens Exchange (ATHEX) general index ended at 584.48 points, adding 2.02% to Monday’s 572.88 points. The large-cap FTSE 25 index expanded 2.75% to close at 1,375.41 points.

The banks index came off historic lows to rise 4.82%. National led the recovery with 6.43% growth, followed by Eurobank (up 5.24%), Piraeus (4.48%) and Alpha (3.06%).

Jumbo soared 9.68%, OPAP earned 4.43%, Terna Energy fetched 4.39% and ADMIE Holdings advanced 2.59%. Ellaktor fell 0.65%.

In total 61 stocks enjoyed gains, 31 suffered losses and 23 remained unchanged.

Turnover amounted to 42 million euros, down from Monday’s €45.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.58% to close at 43.40 points.