Banks resurge as poll date draws nearer
Resurgent banks drove the Greek stock market higher yesterday in the midst of positive sentiment on other European markets. The benchmark Athens Exchange (ATHEX) index was up 0.48 percent, closing at 4,846.08. The blue chip FTSE/ATHEX 20 index added 1.00 percent, reaching 2,587.28 points, while the mid-cap FTSE/ATHEX 40 index shed 0.37 percent and the small-cap FTSE/ATHEX 80 index rebounded 1.30 percent higher. The FTSE/ATHEX International was up 0.78 percent. Piraeus Bank led the big five, climbing 3.47 percent, Eurobank advanced 2.83 percent, Alpha Bank rose 2.10 percent, Bank of Cyprus ended 1.68 percent higher and National Bank gained 1.25 percent. Hellenic Petroleum, Postal Savings Bank, Viohalco, Public Power Corporation, OPAP and Motor Oil also headed north. By contrast, Coca-Cola HBC fell 2.43 percent from recent historic highs to 36.20 and Cosmote shed 1.63 percent. Hellenic Technodomiki, OTE, Titan, Emporiki Bank and Intralot also ended in negative territory, while banks ATE and Marfin Popular were unchanged. Turnover rose to -422.36 million, of which -115.25 million was in block trades. Some analysts said the market yesterday may have partly discounted a favorable result in this coming Sunday’s election.
