ATHEX: Appetite for banks buoys stock index

The battle between sellers and buyers during Thursday’s bourse session in Athens concluded with a marginal win for the buyers, as the majority of stocks heeded the trend set by banks and closed in the black again. The upcoming increase in interest rates may shift some interest to bond markets, but stocks are also likely to be affected, hence the strong showing of banks across the eurozone.

The Athens Exchange (ATHEX) general index closed at 934.58 points, adding 0.17% to Wednesday’s 932.96 points. The large-cap FTSE-25 index expanded 0.30%, ending at 2,263.98 points.

The banks index improved 0.75%, with National grabbing 2.39%, Piraeus earning 0.75% and Eurobank rising 0.37%, as Alpha stayed put.

Lamda Development collected 1.86% and Public Power Corporation grew 1.10%, while Sarantis fell 1.93% and ADMIE Holdings parted with 1.59%.

In total 59 stocks secured gains, 39 reported losses and 24 remained unchanged.

Turnover amounted to €66 million, down from Wednesday’s €89.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.48% to 70.60 points.