ATHEX: Banks climb to highest in eight years

The Greek bourse finally made that jump it had promised all of last week, led by banks whose index has reached highs unseen in over eight years. The benchmark also climbed significantly to reach a two-month high and edge close to a 13-year record, that it appears ready to break anytime soon. The withdrawal of Joe Biden from the race for the White House may have been the catalyst, but domestic expectations about corporate deals also played their part.

The Athens Exchange (ATHEX) general index closed at 1,482.43 points, adding 1.23% to Friday’s 1,464.39 points. The large-cap FTSE-25 index expanded 1.43%, ending at 3,629.22 points.

The banks index improved 2.04%, as Alpha jumped 2.65%, Eurobank 2.33%, Piraeus 2.28% and National 1.37%.

OTE grew 2.83%, Motor Oil fetched 2.52% and ElvalHalcor augmented 2.05%.

In total 62 stocks boasted gains, 34 posted losses and 26 remained unchanged.

Turnover amounted to 96 million euros, up from last Friday’s €76.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.45% to close at 165.62 points.