Stocks recover on ESM news
The European Stability Mechanism’s decision to unfreeze short-term debt lightening measures for Greece, and the seven consecutive sessions of decline for the banks index fueled a significant upturn yesterday both in stock prices and turnover.
The Athens Exchange (ATHEX) general index ended at 646.51 points, adding 1.13 percent to Monday’s 639.27 points. The large-cap FTSE 25 index expanded 0.98 percent to close at 1,729.83 points.
The banks index recovered from total losses of 10.62 percent in the previous seven days to rise 2.26 percent, led by Piraeus (up 3.63 percent) and Eurobank (3.20 percent). National climbed 2.55 percent and Alpha strengthened 1.11 percent.
Ellaktor advanced 2.63 percent and PPC improved 2.48 percent, while Sarantis gave up 1.14 percent.
In total 65 stocks recorded gains, 40 reported losses and 17 closed unchanged.
Turnover amounted to 45.3 million euros, more than double Monday’s 22.3 million.
In Nicosia the general index of the Cyprus Stock Exchange conceded 1.61 percent to close at 69.18 points.