ATHEX: Big rebound for stocks in local bourse

A positive word from the Kremlin about some progress on the diplomatic front sufficed on Friday for a day of healthy gains across the board at Athinon Avenue, as volatility remained the main feature of the stock market for another week of war in Ukraine. 

Friday’s gains managed to swing the weekly result of the bourse’s benchmark from red to black, ending a two-week decline.

The Athens Exchange (ATHEX) general index closed at 827.96 points, adding 3.05% to Thursday’s 803.47 points. On a weekly basis it advanced 0.76%.

The large-cap FTSE-25 index expanded 3.50%, ending at 1,990.83 points.

The banks index rebounded 5.04%, with Eurobank jumping 9.54% after its Q4 results late on Thursday, Piraeus grabbing 4.42%, Alpha rising 2.90% and National collecting 2.13%.

In total 95 stocks boasted gains, 16 reported losses and nine remained unchanged.

Turnover amounted to 103.4 million euros, down from Thursday’s €107 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.02% to close at 63.71 points.