ECONOMY

Lenders lead index, turnover rebound

Last week was a positive one in terms of both gains and turnover growth, mostly thanks to the inflow of funds from abroad. The Athens Exchange (ATHEX) general index closed the week at 1,647.88 points, recording 5.78 percent growth from previous Friday’s close. The sector index for banks showed an impressive 10.99 percent weekly rise, which represents a significant rebound after taking a severe beating over the past 18 months. The Greek bourse followed the example of global markets, while there was a sizeable inflow of fresh capital, mainly from investors of banking groups in London and New York. Local institutional and private investors also became more active. Analysts say the higher turnover, especially on Thursday and Friday, points to a new positioning by investors, which may mean that a further rise can be expected in the medium term. Once again, though, the week illustrated how much the local market is affected by developments abroad, as ATHEX followed the rebound of bourses in the US, Europe and Asia.