Bank stocks up 20 per­cent in 3 ses­sions

Kathimerini English - - Focus -

The progress recorded in the bailout re­view process buoyed Greek stocks for the third day in a row yes­ter­day, with bank stocks soar­ing 7.11 per­cent to ac­cu­mu­late gains of about 20 per­cent in just three ses­sions.

The Athens Ex­change (ATHEX) gen­eral in­dex closed at 611.93 points, adding 1.81 per­cent to Thurs­day’s 601.07 points. On a weekly ba­sis it ad­vanced 5.04 per­cent, the best weekly per­for­mance in the last seven months.

The large-cap FTSE 25 in­dex ex­panded 2.79 per­cent to 1,645.50 points, while small-caps shrank 0.54 per­cent.

Two-thirds of the in­creased trad­ing vol­ume in­volved bank stocks, with Eurobank grow­ing 14.24 per­cent, Pi­raeus ris­ing 9.04 per­cent, Na­tional im­prov­ing 6.06 per­cent and Al­pha climb­ing 3.57 per­cent.

OTE tele­com, a 5 per­cent stake in which was trans­ferred from the state to sell-off fund TAIPED this week, closed on the day’s high, up 2.42 per­cent. PPC went up a no­table 3.31 per­cent, while Folli Fol­lie de­clined 1.17 per­cent.

In to­tal 67 stocks posted gains, 38 reg­is­tered losses and 21 re­mained un­changed.

Turnover amounted to 82 mil­lion eu­ros, up from Thurs­day’s 52.7 mil­lion.

In Ni­cosia the gen­eral in­dex of the Cyprus Stock Ex­change in­creased 0.65 per­cent to close at 67.06 points.

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