ATHEX: Local stocks post gains in thin trade

Greek stocks headed north in the week’s first session on the Athens bourse, drawing support from three out of the four systemic banks and in line with the general trend for growth in European stock prices. However, the particularly weak trading volume – the lowest of the last 55 sessions – showed that the rise in prices was simply due to the abstention of sellers.

The Athens Exchange (ATHEX) general index closed at 487.97 points, adding 1.55 percent to Friday’s 480.54 points. The large-cap FTSE 25 index expanded 2 percent to end at 130.52 points. Mid-caps contracted 1.70 percent.

Banks increased 1.43 percent, as Piraeus rose 5.22 percent, Eurobank grew 4.28 percent and National climbed 3.75 percent, while Alpha dropped 2.22 percent.

Titan Cement outperformed its blue chip peers with a 4.39 percent advance, followed by Aegean Air (up 3.95 percent) and Coca-Cola HBC (3.66 percent). Piraeus Port Authority conceded 3.71 percent and Lamda Development fell 2.76 percent.

In total 54 stocks registered gains, 49 recorded a decline and 15 remained unchanged.

Turnover amounted to just 29.1 million euros, down from last Friday’s 50.5 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 1.21 percent to 65.35 points.