ATHEX: Index edges higher, banks keep sliding

The shock of the double-digit consumer price index was quickly absorbed by traders at the Greek bourse on Tuesday and the benchmark reverted to gains, having started the session with a clear upward trend. However, the banks index remained on a southbound course despite JP Morgan upgrading its expectations from local lenders, especially Eurobank and National.

The Athens Exchange (ATHEX) general index closed at 860.85 points, adding 0.19% to Monday’s 859.18 points. The large-cap FTSE-25 index contracted 1.12%, ending at 2,067.58 points.

The banks index declined for the 10th session in a row, this time by 0.23%, as Piraeus fell 1.90%, Alpha gave up 1.02% and National eased 0.33%, while Eurobank earned 1.22%.

Jumbo grew 3.65%, Coca-Cola HBC collected 3.33%, Sarantis rose 3.08% and Hellenic Petroleum improved 2.95%. Terna Energy slumped 4.14%.

In total 43 stocks posted gains, 59 endured losses and 18 remained unchanged.

Turnover amounted to 103.2 million euros, up from Monday’s €83.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange inched up 0.01% to close at 68.98 points.