Blue chips rebound on new optimism
Blue chips on the Greek stock exchange all but covered the losses sustained in Monday’s session yesterday, as, after a declining start, the benchmark rebounded to close above 610 points.
The Athens Exchange (ATHEX) general index ended at 610.60 points, adding 1.08 percent to Monday’s 604.06 points. The large-cap FTSE 25 index expanded 1.47 percent to 1,648.78 points, while mid-caps contracted 1.35 percent.
Expectations that the problems in the bailout review negotiations will be overcome sooner or later and the need for a correction after four straight days of losses for the banks index contributed toward the recovery of blue chips, although the majority of stocks ended up with losses.
The banks index advanced 5.11 percent, with Alpha rising 5.92 percent, Eurobank jumping 5.61 percent, National grabbing 4.57 percent and Piraeus increasing 3.45 percent.
Lamda Development grew 4.62 percent, Hellenic Petroleum earned 2.64 percent and OTE telecom improved 2.31 percent, as Titan Cement conceded 3.91 percent and Hellenic Exchanges lost 2.07 percent.
In total 39 stocks registered gains, 46 sustained losses and 25 remained unchanged.
Turnover amounted to 50.9 million euros, up from Monday’s 45.2 million.
In Nicosia the general index of the Cyprus Stock Exchange declined 0.40 percent to close at 64.39 points.