BUSINESS

ATHEX: Growth across the board at local bourse

TAGS: Stocks

March got off to a positive start on the Greek stock market, as the reserved optimism that the bailout review will eventually be concluded successfully was buoyed by Finance Minister Euclid Tsakalotos’s statement about a staff-level agreement by March 20. Trading volume also posted a notable increase.

The Athens Exchange (ATHEX) general index closed at 656.17 points, adding 1.59 percent to Tuesday’s 645.88 points. The large-cap FTSE 25 index expanded 1.36 percent to 1,751 points and mid-caps outperformed, rising 3.37 percent.

The banks index advanced 3.89 percent, with National leading the pack with its 5 percent ascent. It was followed by Alpha (up 4.09 percent), Piraeus (3.28 percent) and Eurobank (2.70 percent).

PPC increased 3.64 percent and Viohalco improved 2.22 percent, while Hellenic Petroleum gave up 0.85 percent and Coca-Cola HBC fell 0.79 percent.

Mid-caps’ growth was largely powered by the 6.51 percent rise of Fourlis Holdings, which accounted for 1.63 million euros of trading volume.

In total 66 stocks recorded gains, 29 took losses and 27 remained unchanged.

Turnover came to 60 million euros, up from Tuesday’s 43.5 million.

In Nicosia the general index of the Cyprus Stock Exchange dropped 0.80 percent to close at 66.01 points.

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