Stocks climb as investors put money on rating upgrade
Rising for a third session in as many days, the gains posted by the Greek bourse benchmark were more convincing yesterday, even though stocks were split between winners and losers and turnover remained low. Banks led the blue chip index higher, with traders expecting a sovereign credit rating upgrade by Moody’s this Friday.
The Athens Exchange (ATHEX) general index closed at 755.03 points, adding 0.65 percent to Monday’s 750.17 points. The large-cap FTSE26 index expanded 0.77 percent to close at 1,948.02 points, while smallcaps contracted 0.82 percent.
Banks advanced 2.88 percent. Alpha jumped 3.77 percent, Eurobank ascended 2.59 percent, Piraeus rose 2.47 percent and National 2.12 percent. Motor Oil was up 2.94 percent, while Viohalco fell 1.61 percent.
In total 47 stocks rose, 46 headed south and 22 were unchanged. Turnover came to 43.4 million euros, up from Monday’s 38.8 million.
The general index of the Cyprus Stock Exchange in Nicosia grew 0.23 percent to 73.45 points.