ATHEX: Benchmark rebounds on narrow trade

This time the Greek stock market held on to its early gains, and despite the very narrow trade, with turnover failing even to reach 30 million euros, the benchmark at Athinon Avenue returned back above the psychologically important level of 800 points on Monday. Banks and utilities played a major part in this rebound, that will require significantly more cash to be sustainable.

The Athens Exchange (ATHEX) general index closed at 804.24 points, adding 1.21% to Friday’s 794.62 points. The large-cap FTSE-25 index expanded 1.13%

The banks index went 2.31% to the good, on Eurobank earning 3.44%, National fetching 3.01%, Piraeus collecting 1.27% and Alpha rising 0.62%. Aegean Airlines climbed 3.36%, Quest Holdings increased 3.06%, OTE telecom grew 2.28% and ADMIE Holdings improved 2.16%, as OPAP lost 2.40%.

In total 70 stocks boasted gains, 30 suffered losses and 23 remained unchanged.

Turnover was the second lowest of this year, amounting to just €28.6 million, down from last Friday’s €34.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.36% to close at 66.10 points.