Econ recovery, political developments cause ATHEX bank shares to skyrocket (92%) over last 6 mo.

Friday, 28 June 2019 19:53
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By N. Stasinou 

The general index at the Athens Stock Exchange (ATHEX) continued its 2019 rally over the recent period, having gained 43 percent over the past sixth month, fuelled by a skyrocketing bank index, up by 92 percent.

The favorable tide comes amid a recovering Greek economy, an exit from the bailout era (August 2018) but also by political developments in the country, as markets and investors are now more-or-less confident that center-right New Democracy (ND) will replace leftist SYRIZA in the government after the July 7 election.

With the general index exceeding 860 points for months now, the new "psychological threshold" is 1,000.

In terms of specific  bank shares, Piraeus Bank has led the pack of systemic lenders, with a increase in its share price revolving at 250 percent. Non-systemic Attica Bank's share posted a spectacular 343-percent increase over the past six months.

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