ATHEX: Moderate gains for bank stocks

The growth of banks offset the decline of utilities and energy stocks on Tuesday, making the mixed session one of net gains for the benchmark at Athinon Avenue, albeit on reduced turnover. The day started off with sales on the back of a downbeat mood across Europe, but buyers recovered to seize the opportunity and snap up some positions, not only in banks that are about to issue their first-quarter results, but also in tech stocks.

The Athens Exchange (ATHEX) general index closed at 863.41 points, adding 0.42% to Monday’s 859.79 points. The large-cap FTSE-25 index expanded 0.61%, ending at 2,078.89 points, but mid-caps contracted 0.07%.

The banks index advanced 2.49%, as Alpha earned 3.89%, National grew 3.05%, Piraeus collected 2.76% and Eurobank climbed 0.84%. Viohalco increased 4.28%, Mytilineos moved up 3.13% and Piraeus Port Authority fell 2.29%.

In total 49 stocks recorded gains, 50 suffered losses and 23 remained unchanged.

Turnover amounted to 65.8 million euros, down from Monday’s €81.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.08% to close at 66.38 points.