ATHEX: Stock rally shows signs of fizzling
The benchmark of the Greek stock market continued its rising streak on Thursday, though when at mid-session it surpassed the 1,200-point mark it quickly headed south again, eventually ending with only a quarter of the gains it had posted during the day. The reaction momentum appears to be thinning now, after three days of continuous gains from Monday’s five-month lows.
The Athens Exchange (ATHEX) general index closed at 1,182.31 points, adding 0.56% to Wednesday’s 1,175.78 points. The large-cap FTSE-25 index expanded 1.36% to end at 2,875.69 points.
The banks index contracted 0.28%, as Eurobank fell 1.18% and Piraeus eased 0.77%, while Alpha rose 0.08% and National advanced 0.85%. Ellaktor jumped 3.93%, Viohalco earned 3.67%, GEK Terna grabbed 3.17%, Lamda Development augmented 2.94% and Mytilineos climbed 2.86%, as Public Power Corporation declined 2.90%.
In total 56 stocks notched up gains, 40 sustained losses and 26 remained unchanged.
Turnover amounted to 119.4 million euros, up from Wednesday’s €100.9 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.19% to 128.61 points.
