BUSINESS

ATHEX: Trader hopes give boost to local stocks

TAGS: Stocks

Expectations from the visit of US Treasury Secretary Jack Lew in Athens on Wednesday and positive signs suggesting an easing of capital controls gave the Greek stock market a boost on Tuesday, with notable gains in its benchmark after two days of losses. The level of trading was also raised significantly by a package transaction concerning Hellenic Petroleum shares, which accounted for 46 percent of the day’s entire volume.

The Athens Exchange (ATHEX) general index closed at 563.75 points – the day’s highest level – adding 1.53 percent to Monday’s 555.26 points. The large-cap FTSE 25 index expanded 1.41 percent to end at 1,526.69 points.

Banks rose 2.25 percent but rather than protagonists they were the also-runs on Tuesday in a session dominated by the rise of Folli Follie (up 4.28 percent) and Hellenic Petroleum (3.43 percent). National Bank gained 3.16 percent and Mytilineos grabbed 2.93 percent, while OTE telecom gave up 0.69 percent.

In total 52 stocks enjoyed gains, 29 sustained losses and 21 remained unchanged.

Turnover amounted to 48.9 million euros, up from Monday’s year-low of 24.2 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 1.09 percent to close at 65.83 points.

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