Greek bank stocks soar 17.78 per­cent

Kathimerini English - - Front Page -

Bank stocks led a much-needed Greek bourse re­bound yesterday, mak­ing up some of the ground lost in the first three ses­sions since the mar­ket re­opened. How­ever, traders viewed the re­cov­ery more as a cor­rec­tion and less as ev­i­dence of gen­uine ex­pec­ta­tions of an up­ward move in the com­ing days. That was also clear from the drop in trad­ing vol­ume.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 666.68 points, adding 3.65 per­cent to Wed­nes­day’s 643.22 points. The large-cap FTSE 25 in­dex ex­panded 4.81 per­cent to end at 197.96 points.

Af­ter the three-day 63.8 per­cent de­cline, the banks in­dex clawed back 17.78 per­cent, as Al­pha started the day at the limit down and ended 11.61 per­cent higher, Na­tional rose 27.47 per­cent and Eurobank gained 17.31 per­cent. Gri­valia Prop­er­ties lost 6.08 per­cent.

In to­tal 71 stocks moved up, 22 came down and eight stayed put.

Turnover amounted to 73.4 mil­lion eu­ros, down from Wed­nes­day’s 81 mil­lion.

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