Ma­jor gains for stocks at start of year

Kathimerini English - - Front Page -

The new year started off with a bang at the Greek bourse yes­ter­day as lo­cal stocks bucked the trend recorded across the rest of the con­ti­nent to post ma­jor gains and take the bench­mark in­dex over the 1,200-point level, de­spite the fact that the cap­i­tal gains tax came into ef­fect on the same day.

The ATHEX gen­eral in­dex closed at 1,204.96 points, grow­ing 3.64 per­cent from Tues­day’s 1,162.68 points. The large-cap FTSE/ATHEX 25 ex­panded 3.48 per­cent to end at 398.24 points.

The word in the mar­ket is that the Euro­pean Cen­tral Bank will ac­cept do­mes­tic banks’ re­quest to re­duce their cap­i­tal ad­e­quacy thresh­old (Core Tier I in­dex) from 9 to 8 per­cent (the same as that of their eu­ro­zone peers). That sent the banks in­dex up 3.86 per­cent, with Na­tional soar­ing 7.01 per­cent and Al­pha ris­ing 3.33 per­cent. Terna En­ergy added 6.79 per­cent.

In to­tal 118 stocks posted gains, 19 went down and nine re­mained un­changed.

Turnover amounted to 57.1 mil­lion eu­ros, up from Tues­day’s 52.1 mil­lion.

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