Stocks on the Greek bourse continued heading north on Wednesday, with the benchmark climbing to a three-month high.
The good showing is attributed to news of progress in negotiations over the bailout review, even though trading volume remained low and bond yields continued to rise in the secondary markets. It appears that sellers are waiting for an opportunity to return to action but plan to abstain until then.
The Athens Exchange (ATHEX) general index closed at 582.51 points, adding 0.63 percent to Tuesday’s 578.85 points. The last time the benchmark was at such heights was on January 13. The large-cap FTSE 25 index expanded 0.60 percent to end at 160.67 points.
Titan Cement was the day’s champion among blue chips as it advanced 5.49 percent, followed by Piraeus Bank (up 3.06 percent), Motor Oil (2.76 percent) and OTE telecom (1.91 percent). Leading the losers were Lamda Development (down 2.52 percent), Coca Cola HBC (1.51 percent) and Public Power Corporation (1 percent).
In total 58 stocks reported gains, 40 sustained losses and 16 remained unchanged.
Turnover amounted to 46.4 million euros, down from Tuesday’s 60 million.
In Nicosia the general index of the Cyprus Stock Exchange declined 0.31 percent on Wednesday to close at 66.73 points.