ATHEX: Solid growth for bank stocks
The increasing realization that the general elections will probably take place earlier than scheduled and the continued slide in bond yields powered bank stocks to major gains on Monday, driven by National and Piraeus. Trading volume improved too.
The Athens Exchange (ATHEX) general index closed at 667.46 points, adding 1.89 percent to Friday's 655.10 points. The large-cap FTSE-25 index expanded 1.72 percent to 1,751.18 points.
The banks index jumped 6.20 percent, with National soaring 10.31 percent, Piraeus grabbing 8.79 percent, Alpha improving 5.77 percent and Eurobank climbing 3.71 percent. Lamda Development ascended 3.39 percent, Hellenic Exchanges earned 2.62 percent and Sarantis augmented 2.28 percent. Motor Oil declined 1.42 percent.
In total 69 stocks reported gains, 28 took losses and 32 closed unchanged.
Despite the US holiday on Monday, ATHEX...