ATHEX Sees Rebound as Index Surpasses 1,400 Points

In a turnaround from last week’s decline, the Greek stock market experienced a notable rebound on Monday, led by gains in most stocks, particularly those in the banking sector.

The benchmark index surpassed the 1,400-point mark, closing the day not far from its peak. Despite a Bank of Greece report that undercut the government’s growth forecast, market sentiment remained largely unaffected.

The Athens Exchange (ATHEX) general index concluded at 1,401.35 points, marking a 1.29% increase from Friday’s 1,383.45 points. The large-cap FTSE-25 index also saw growth, expanding by 1.39% to reach 3,374.75 points.

Banking stocks notably performed well, with the banks index rising by 2.68%. Alpha surged by 4.28%, Piraeus advanced by 2.93%, National saw a gain of 2.39%, and Eurobank increased by 1.66%.

Other notable gains were seen in Public Power Corporation (up by 4.76%), ElvalHalcor (up by 3.30%), Viohalco (up by 2.50%), and Ellaktor (up by 2.22%). However, Motor Oil experienced a slight decrease of 0.66%.

Of the stocks traded, 80 recorded gains, 23 experienced losses, and 22 remained unchanged. Total turnover amounted to 111 million euros, showing an increase from the previous Friday’s turnover of €103.3 million.

Meanwhile, in Nicosia, the general index of the Cyprus Stock Exchange saw a modest increase of 0.18%, closing at 143.49 points.