Stocks rally takes index back above 1,100 points

Greek stocks staged an impressive rebound on Tuesday, with the Athens benchmark adding almost 5 percent and all blue chips securing healthy gains on the day that more than 1.136 billion new National Bank shares were introduced.

The Athens Exchange (ATHEX) general index closed at 1,119.30 points, gaining 4.95 percent from Monday’s 1,066.54 points. The large-cap FTSE/ATHEX 25 expanded 4.66 percent to close at 358.98 points.

National started the day with losses of 6.16 percent but recovered to close with a 1.42 percent rise. It underperformed most other blue chips, as Corinth Pipeworks added 10.14 percent, Public Power Corporation increased 9.79 percent, Frigoglass climbed 9.38 percent and GEK Terna expanded 9.35 percent.

In total 99 stocks posted gains, 28 suffered losses and 15 remained unchanged.

Turnover came to 262 million euros, against Monday’s 304.4 million.