Banks fuel re­bound on Athens bourse

Kathimerini English - - Focus -

The Greek bourse staged an im­pres­sive re­bound at the start of the week, as the banks in­dex added a whop­ping 22.15 per­cent over the course of yesterday’s ses­sion.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 667.09 points, ad­vanc­ing 4.07 per­cent from Fri­day’s 640.99 points. The large-cap FTSE 25 in­dex ex­panded 5.40 per­cent to end at 195.93 points.

Re­ports about Fair­fax Fi­nan­cial Hold­ings plan­ning a strong par­tic­i­pa­tion in Eurobank’s share cap­i­tal in­crease, the prospect of Na­tional selling its Turk­ish sub­sidiary Fi­nans­bank, and the over­selling of bank chips in the pre­vi­ous two weeks pro­pelled the credit sec­tor to ma­jor growth yesterday: Al­pha climbed 25 per­cent, Pi­raeus in­creased 24.64 per­cent, Na­tional rose 20.55 per­cent and Eurobank earned 20 per­cent.

GEK Terna went up a sig­nif­i­cant 8.48 per­cent and Hel­lenic Ex­changes added 7.46 per­cent, while EYDAP (down 0.35 per­cent) and Mo­tor Oil (0.09 per­cent) were the only blue chips to head lower.

In to­tal 56 stocks re­ported gains, 32 sus­tained losses and 13 ended un­changed.

Turnover amounted to 32.3 mil­lion eu­ros, up from last Fri­day’s 19.4 mil­lion.

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