BUSINESS

ATHEX: MSCI boost for Eurobank leads to high trade volume

TAGS: Stocks

The surprise announcement of the earlier inclusion of Eurobank in the MSCI Standard Greece Index gave a boost not only to the lender’s stock but also the whole bourse on Tuesday, leading the benchmark to major gains and turnover to its highest level in 50 sessions – just a whisker away from 100 million euros.

The Athens Exchange (ATHEX) general index closed at 733.18 points, adding 2.23 percent to Monday’s 717.21. The large-cap FTSE-25 index rose 2.37 percent to 1,896.73 points.

Eurobank was supposed to return to the the MSCI Standard index as of next Monday, along with National Bank, but MSCI said this is being brought forward to Thursday following Eurobank’s absorption of Grivalia Properties. That resulted in Eurobank jumping 6.05 percent, as the banks index grew 4.29 percent.

In total 66 stocks saw gains, 20 posted losses and 26 stayed put. Turnover reached 99.8 million euros, up from Monday’s 50 million.

In Nicosia the Cyprus Stock Exchange advanced 0.74 percent to close at 69.24 points.

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