BUSINESS

ATHEX: Monthly gains of 6.36 pct for benchmark

TAGS: Stocks

The leaked details of a European Stability Mechanism paper documenting short-term measures to ease Greece’s national debt, as well as news of progress in the bailout review talks, particularly on the labor relations front, led most Greek stocks to significant gains on Wednesday, in line with those registered on Wall Street and elsewhere in Europe, and improvements in oil rates. Trading volume soared, partly thanks to the sale of a 4 percent stake in Titan Cement.

The Athens Exchange (ATHEX) general index closed at 628.75 points, adding 2.97 percent to Tuesday’s 610.60 points. The large-cap FTSE 25 index expanded 3.42 percent to 1,705.13 points, while mid-caps dropped 0.48 percent.

November was the second consecutive month of gains for the benchmark, amounting to 6.36 percent, while the banks index jumped 24.48 percent, thanks partly to the 7.83 percent growth posted on Wednesday.

Piraeus Bank ascended 10.56 percent and Eurobank climbed 10.47 percent. National improved 6.80 percent. Leading the three declining blue chips was Lamda Development, which fell 0.84 percent.

In total 67 stocks posted gains, 32 took losses and 12 stayed unchanged.

Turnover rocketed to 180.9 million euros, up from Tuesday’s 50.9 million.

The general index of the Cyprus Stock Exchange in Nicosia advanced 0.14 percent to close at 64.48 points.

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