ATHEX: Banks stem decline of local bourse
The main index at Athinon Avenue came off an 18-week low on Wednesday to post a small rise, though the majority of blue chips headed lower. Banks managed to stem the outflow of capital from the Greek bourse, although the outlook for most listed companies remains bleak due to the high interest rates that are affecting borrowing.
The Athens Exchange (ATHEX) general index closed at 1,170.13 points, adding 0.14% to Tuesday’s 1,168.45 points. The large-cap FTSE-25 index expanded 0.53% to end at 2,840.16 points, but the mid-cap index declined 0.31%.
The banks index jumped 3.44%, on Piraeus soaring 5.12%, Eurobank gaining 4.04%, National climbing 2.67% and Alpha obtaining 2.27%.
On the other hand, Mytilineos conceded 2.50%, Cenergy Holdings dropped 2.36% and Quest Holdings gave up 2.03%. Aegean Airlines rose 2.68% and Public Power Corporation grew 2.11%.
In total 37 stocks enjoyed gains, 62 took losses and 20 remained unchanged.
Turnover amounted to 113.7 million euros, up from Tuesday’s €81.6 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.40% to 130.04 points.
