ATHEX: Stock price rise continues on GDP figures

The upward revision of estimates on the performance of the Greek economy in 2015, coupled with a pledge by the European Commission to provide Athens with funding to tackle the migration crisis, helped the local stock market buck the trend in the rest of Europe on Monday and add to the gains it had recorded last week. However, February ended with losses of 6.54 percent for the benchmark.

The Athens Exchange (ATHEX) general index closed at 516.71 points, adding 1.89 percent to Friday’s 507.12 points. The large-cap FTSE 25 index expanded 2.71 percent to end at 140.06 points, though mid-caps shed 0.37 percent.

Banks were the biggest gainers among blue chips by some distance, as the sector’s index soared 10.32 percent. Eurobank stood out by advancing 22.53 percent, ahead of Piraeus Bank (up 13.87 percent) and National (9.29 percent). Public Power Corporation increased 9.44 percent, while Hellenic Exchanges contracted 5.44 percent.

In total 49 stocks reported gains, 40 sustained losses and 27 remained unchanged.

Turnover came to 93.1 million euros, up from last Friday’s 68.7 million.

In Nicosia the general index of the Cyprus Stock Exchange conceded 0.12 percent to 67.09 points.