ECONOMY

Banking boost for bourse

The local stock market reacted positively to the results of the banks’ stress tests, announced on Friday after the bourse had closed, sending the main index once again over the 1,600-point level. The Athens Exchange (ATHEX) general index closed at 1,625.21 points yesterday, expanding 2.18 percent from last Friday’s close at 1,590.50 points. The blue chip FTSE/ATHEX 20 index grew 3.12 percent to end up at 801.62 points. Hellenic Postbank outperformed among the blue chips, soaring 16.79 percent after scoring the best result in the European Central Bank’s stress tests. Other banks followed with considerable gains, including 7.57 percent for Alpha Bank, 6.02 percent for Marfin Popular Bank, ATEbank’s 6 percent, Eurobank’s 5.08 percent and Bank of Cyprus’s 3.81 percent. Viohalco led the blue chip losers with a 4.11 percent drop, ahead of Public Power Corporation (down 3.20 percent) and Jumbo (0.87 percent). A total of 104 stocks moved up, led by Shelman with a 17.65 percent rise, 58 went down, with Xylemporia dropping 19.70 percent, and 52 remained unchanged. Turnover came to 107.7 million euros, up from 101 million last Friday.