Athens Stock Exchange Hits 15-Year High in July

The Athens Stock Exchange closed July at its highest level in 15 years, just shy of the 2,000-point mark for the first time since April 2010, as the General Index wrapped up its ninth consecutive month of gains.

The General Index ended the session at 1,994.63 points, up 0.89%, or 17.65 points, from the previous close, marking a monthly increase of 6.78%. The index peaked intraday at 1,995.26 points, while its low stood at 1,974.86 points, with a trading range of 20.4 points.

Since the start of the year, the index has surged by 35.72%, positioning the Athens bourse among the top-performing markets globally. Investor sentiment was buoyed by favorable conditions in international markets and end-of-month “window dressing,” as funds finalized their books for the strong seven-month performance.

Alter Ego Media led gains with a 3.30% rise to €5.1650. The banking sector recorded a robust monthly performance, up 11.92%, driven by strong earnings. National Bank of Greece stood out, hitting a 10-year high near €12.30 after posting strong half-year results.

Metlen shares extended their all-time highs during the auction phase, trading above €48 ahead of the company’s dual listing in London and Athens scheduled for August 4.

Titan Cement also saw gains following the release of solid H1 financials. GEK TERNA continued its rally, closing at €21.66, up 1.22%, approaching the €22 mark last seen in January 2000.

The FTSE Large Cap index rose 0.95% to 5,011.53 points. Total daily turnover at the Athens Stock Exchange reached €240.5 million, including €26.16 million in prearranged trades. Of the 152 stocks traded, 64 advanced, 51 declined, and 37 remained unchanged.

Source: tovima.com