Bat­tered bank stocks come up for air

Kathimerini English - - Front Page -

Sell­ers took their col­lec­tive foot off the gas yes­ter­day, al­low­ing bank stocks to re­cover some­what af­ter their ex­tended drop, al­beit on par­tic­u­larly thin trad­ing vol­ume. The Greek bench­mark nar­rowly made it into the green at the clos­ing auc­tions, but the ma­jor­ity of stocks, as well as the mid-cap and small­cap in­dices, recorded a de­cline.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 529.65 points, adding 0.47 per­cent to Tues­day’s 527.16 points. The large­cap FTSE 25 in­dex ex­panded 0.95 per­cent to end at 1,398.81 points. Mid-caps lost 0.20 per­cent and small-caps con­tracted 0.47 per­cent.

Banks had clearly been over­sold in the last few days and their in­dex staged a 4.43-per­cent re­bound yes­ter­day from Tues­day’s four-and-ahalf-month low, led by Pi­raeus, which ad­vanced 7.69 per­cent. Al­pha climbed 4.41 per­cent, and Eurobank in­creased 3.85 per­cent. Among the day’s other gain­ers were Terna En­ergy (up 3.66 per­cent) and Aegean Air (3.03 per­cent). Ti­tan Ce­ment dropped 2.70 per­cent.

In to­tal 37 stocks re­ported gains, 46 took losses and 16 closed un­changed.

Turnover was the low­est of the last 56 ses­sions, amount­ing to just 36.8 mil­lion euros, down from Tues­day’s 45.6 mil­lion.

In Nicosia the gen­eral in­dex of the Cyprus Stock Ex­change de­clined 0.20 per­cent to close at 65.17 points.

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