BUSINESS

ATHEX: Local stocks soar on ECB plans

TAGS: Stocks

Friday’s decision by European Central Bank chief Mario Draghi gave Greek stocks a major boost. Frankfurt’s plan allowing Greek banks to sell EFSF bonds sent their sectoral index soaring a spectacular 18.92 percent. The benchmark enjoyed its highest daily gains in the last two months and trading volume approached the 100-million-euro mark.

The Athens Exchange (ATHEX) general index closed at 574.73 points, adding 4.86 percent to Thursday’s 548.10 points. This secured it weekly gains of 2.34 percent.

The large-cap FTSE 25 index jumped 7.19 percent to end at 159.45 points.

Banks were by far the best performers on the day, as Piraeus soared 27.07 percent, National climbed 18.83 percent, Eurobank rose 18.67 percent and Alpha Bank increased 15.70 percent. Jumbo (down 1.14 percent) and Titan Cement (0.17 percent) were the only blue chips to head south.

In total 68 stocks enjoyed gains, 33 sustained losses and 17 remained unchanged.

Turnover was the highest of the last 12 sessions, amounting to 92.3 million euros, against Thursday’s 36.7 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.21 percent to close at 67.31 points.

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