ATHEX: Main stock index closes up 1.66 pct

TAGS: Stocks

The International Monetary Fund’s bullish take on the Greek economy and the favorable figures on September’s state revenues resulted in significant gains on the local bourse on Tuesday, for the first time in several sessions. The benchmark climbed to a new month-high, while trading volume was double the very low amount recorded on Monday.

The Athens Exchange (ATHEX) general index closed at 579.18 points, the highest since September 2, adding 1.66 percent to Monday’s 569.72 points. The FTSE 25 index expanded 1.79 percent to end at 1,542.82 points.

Banks outperformed with their index climbing 3.09 percent. Piraeus Bank gained 6.72 percent, National rose 3.80 percent and Alpha was up 2.63 percent.

Among other blue chips, Jumbo advanced 3.60 percent, Mytilineos increased 3.02 percent, Aegean Air improved 2.67 percent, and Titan Cement and Motor Oil both grew 2.65 percent. METKA dropped 0.94 percent, Ellaktor lost 0.78 percent and Grivalia Properties slid 0.29 percent.

In total 68 stocks registered gains, 39 reported losses and 13 remained unchanged.

Turnover amounted to 30 million euros, up from Monday’s 14.9 million.

In Nicosia the general index of the Cyprus Stock Exchange contracted 0.24 percent to close at 66.13 points.