ATHEX: Convincing rise for bank stocks and benchmark

The benchmark of the Greek stock market saw a more convincing day of gains on Tuesday on slightly improved turnover. However, although bank stocks headed north for the third day in a row, the momentum will have to strengthen if they are to stage a full recovery.

The Athens Exchange (ATHEX) general index ended at 686.68 points, adding 0.58 percent to Monday’s 682.75 points. The large-cap FTSE-25 index expanded 0.27 percent to 1,805.31 points, while the mid-cap index jumped 1.50 percent.

The banks index climbed 2.03 percent. Eurobank led the way with 6.19 percent growth, ahead of Piraeus (up 4.45 percent) and National (0.62 percent), as Alpha declined 0.53 percent. PPC and GEK Terna outperformed with gains of 2.42 percent and 2.35 percent respectively.

In total 49 stocks went up, 36 took losses and 32 ended unchanged.

Turnover amounted to 40.8 million euros, up from Monday’s 36.2 million.

In Nicosia the Cyprus Stock Exchange general index decreased 0.48 percent to close at 73.19 points.