ATHEX: Half-hearted recovery in stock market

Greek stocks staged an unconvincing recovery on Tuesday, as early gains were halved by the end of the session and reduced turnover showed only a half-hearted rebound from Monday’s sell-off. Worries over the course of the pandemic continue to affect the mood at Athinon Avenue and the corporate news, such as results or acquisitions, is little more than a distraction, coming every now and then.

The Athens Exchange (ATHEX) general index closed at 838.83 points, adding 0.68% to Monday’s 833.16 points. The large-cap FTSE 25 index expanded 0.62% to end up at 2,008.42 points.

The banks index improved 0.60%, as National rose 2.62%, Alpha earned 0.69%, Piraeus stayed put and Eurobank slipped 0.50%.

Lamda Development cashed in on its Elliniko presentation, rising 3.12%, and Terna Energy collected 2%, while Jumbo fell 2.96% and Hellenic Petroleum gave up 1.60%.

In total 70 stocks recorded gains, 41 sustained losses and 21 remained unchanged.

Turnover amounted to 47.8 million euros, down from Monday’s €84.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.37% to close at 64.77 points.