ATHEX: Cypriot boost offers gains to bourse

Two decisions originating from Cyprus – the approval of funding for the Great Sea Interconnector and the return to the Greek stock market of the Bank of Cyprus stock after its delisting from London – gave Athinon Avenue a significant boost at the start of the week, with energy and bank stocks predictably leading the market’s growth. 

Internationally, the boost from the interest rate cuts is mitigated by the geopolitical concerns, so the week ahead remains tricky for traders.

The Athens Exchange (ATHEX) general index closed at 1,442.53 points, adding 1.22% to Friday’s 1,425.19 points. The large-cap FTSE-25 index expanded 1.55%, ending at 3,509.11 points.

The banks index grew 2.43%, with National gaining 4.46%, Eurobank 2.92%, Piraeus 1.87% and Alpha up 0.31%. PPC fetched 2.82%, Jumbo earned 2.71% and Metlen rose 2.46%.

In total 61 stocks secured gains, 36 endured losses and 27 remained unchanged.

Turnover amounted to 128.8 million euros, down from last Friday’s €209 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.56% to close at 189.75 points.