ATHEX: Early losses give way to late growth

The Greek stock market opened the week with a 2.1% decline in Monday’s first few minutes, as a result of the shocking news of Credit Suisse’s demise and takeover by fellow Swiss lender UBS, but stocks gradually began to recover and swung back into the black as the session progressed to close with moderate gains in their majority.

The Athens Exchange (ATHEX) general index closed at 1,027.47 points, adding 0.71% to Friday’s 1,020.19 points. It had briefly dropped below 1,000 points. The large-cap FTSE-25 index expanded 0.86% to end up at 2,499.44 points.

The banks index, which had led the early dive, rebounded 2.96%, as Piraeus soared 6.31%, Alpha grew 3.57%, Eurobank earned 1.98% and National collected 1.90%. Helleniq Energy advanced 4.17%, OTE telecom grew 3.36% and Mytilineos augmented 2.92%, while Sarantis fell 4.02% and EYDAP gave up 2.48%.

In total 63 stocks enjoyed gains, 44 endured losses and 20 remained unchanged.

Turnover amounted to 107 million euros, down from last Friday’s €177.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 3.01% to close at 101.43 points.