ATHEX: Strong gains for the credit sector index

Developments in the banking sector, mainly regarding nonperforming loans, gave bank stocks at Athinon Avenue a significant boost on Tuesday as buyers made a comeback, bolstering the bourse benchmark in the process and taking daily turnover back above the 50-million-euro level.

The Athens Exchange (ATHEX) general index ended at 866.48 points, adding 1.23 percent to Monday’s 855.92 points. The large-cap FTSE 25 index expanded 1.40 percent to 2,154.36 points.

The banks index jumped 3.49 percent, with Eurobank advancing 4.48 percent, Piraeus growing 3.42 percent, National earning 3.41 percent and Alpha improving 2.64 percent.

Among the other blue chips, ADMIE Holdings – which may attract Chinese interest – collected 2.88 percent, Ellaktor increased 2.29 percent, GEK Terna grabbed 1.96 percent and Jumbo rose 12.66 percent, while Fourlis conceded 1.48 percent and Titan Cement lost 0.43 percent.

In total 62 stocks reported gains, 36 registered losses and 28 remained unchanged.

Turnover amounted to 58 million euros, up from Monday’s 42.8 million.

In Nicosia the general index of the Cyprus Stock Exchange rebounded 0.67 percent to close at 66.56 points.