BUSINESS

ATHEX: Benchmark finally clears 650 points

TAGS: Stocks

The Greek bourse benchmark finally cleared the 650-point level on Tuesday to record a new seven-month high, as the certainty of Greece finally meeting all the bailout review requirements pushed stock prices higher at the end of the session.

The Athens Exchange (ATHEX) general index closed at 653.60 points, adding 2.27 percent to Monday’s 639.11 points. The large-cap FTSE 25 index expanded 3.22 percent to end at 180.94 points.

Banks were boosted by Morgan Stanley’s very positive report that set their target prices between 48 and 95 percent higher than their Monday prices. The banks index climbed 4.94 percent, as Piraeus jumped 7.22 percent and Eurobank gained 5.42 percent. Lamda Development advanced 4.68 percent after signing the memorandum of understanding for Elliniko. Metka fell 0.92 percent.

In total 56 stocks posted gains, 45 took losses and 14 ended unchanged.

Turnover amounted to 65.2 million euros, up from Monday’s 41 million.

In Nicosia the general index of the Cyprus Stock Exchange rebounded 0.14 percent to close at 69.35 points.

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