Stocks rise on low volume
The Greek stock market notched up gains on low trading volume for the fourth session in a row yesterday. The rise was in line with international markets while the drop in turnover is normal for the summer holiday season. There were more than twice as many rising stocks as losers, with banks leading the gainers.
The Athens Exchange (ATHEX) general index closed at 548.09 points, adding 2.05 percent to Friday’s 537.10 points. The large-cap FTSE 25 index expanded 2.41 percent to end at 1,472.70 points.
The banks index continued its growth, gaining 4.36 percent for a total rise of 21 percent in the last four sessions. Eurobank climbed 5.71 percent and Alpha increased 4.94 percent, but they were outshone by Ellaktor, which jumped 7.41 percent. Hellenic Petroleum was the only blue chip to head south, falling 1.10 percent.
The news that PPC is proceeding with the separation of its grid operator (ADMIE), destined for privatization, saw the utility’s stock soar 6.07 percent.
In total 57 stocks posted gains, 25 took losses and 16 closed unchanged.
Turnover amounted to 35.6 million euros, down from last Friday’s 42.1 million.
In Nicosia the general index of the Cyprus Stock Exchange advanced 0.96 percent to close at 65.53 points.