Lo­cal stocks surge higher as in­vestors buy into op­ti­mism

Kathimerini English - - Focus -

The op­ti­mism gen­er­ated yes­ter­day by the as­sur­ances of the fi­nance min­is­ter as well as an­tic­i­pa­tion of a credit rat­ing up­grade ei­ther by Fitch on Fri­day or Moody’s next week led to a ma­jor re­bound at the lo­cal bourse that saw ris­ing stocks out­num­ber de­clin­ers by a ra­tio of three-to-one. Turnover also showed a sig­nif­i­cant im­prove­ment.

The Athens Ex­change (ATHEX) gen­eral in­dex ended at 916.19 points, adding 3.90 per­cent to Mon­day’s 881.76 points. The large-cap FTSE/ATHEX 25 in­dex ex­panded 4.07 per­cent to 296.24 points.

Banks out­per­formed as their sec­toral in­dex climbed 4.98 per­cent while ac­count­ing for two-thirds of trad­ing vol­ume. Eurobank rose 7.56 per­cent, Pi­raeus grew 6.73 per­cent and Al­pha added 3.23 per­cent, but they were all beaten by PPC, which soared 9.09 per­cent.

In to­tal 87 stocks posted gains, 29 took losses and 16 re­mained un­changed.

Turnover amounted to 86.2 mil­lion euros, dwarf­ing Mon­day’s 34.4 mil­lion.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.