Bourse shrugs off ‘selective default’ tag

Investors shrugged off Standard & Poor’s decision to cut Greece’s credit rating to “selective default” over the bond buyback process, as the bourse added more gains yesterday while turnover reached 100 million euros due to the 6.86 percent stake in Folli Follie that changed hands for over 42 million.

The Athens Exchange (ATHEX) general index ended at 831.70 points, up 1.59 percent from Wednesday’s 818.71 points.

The large-cap FTSE/ATHEX-25 index added 2.03 percent to end up at 291.89 points.

In total 95 stocks posted gains, 49 took losses and 15 were unchanged.

Turnover amounted to 100.2 million euros, compared to Wednesday’s 35.9 million.