ATHEX: ECB decision sends bank stocks higher

Bank stocks on the Greek bourse were the clear beneficiaries of news about the 75-basis point interest rate hike by the European Central Bank on Thursday, as they outperformed the local market to recover some of the ground lost during previous days. The rest of the bourse appeared to take the news in its stride, having already priced it in.

The Athens Exchange (ATHEX) general index closed at 825.96 points, adding 0.42% to Wednesday’s 822.51 points. The large-cap FTSE-25 index expanded 0.56% to end up at 1,984.55 points.

The banks index jumped 3.33%, thanks to Piraeus soaring 4.75%, Alpha growing 4.59%, National augmenting 3.17% and Eurobank collecting 1.96%. 

ADMIE Holdings improved 1.59%, Public Power Corporation climbed 1.35% and Lamda Development increased 1.24%, as Jumbo ended 3.20% lower.

In total 51 stocks recorded gains, 37 registered losses and 32 remained unchanged.

Turnover amounted to 62.2 million euros, down from Wednesday’s €70.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.34% to close at 73.43 points.