STOCKS

ATHEX: Index reaches levels unseen since 2014

athex-index-reaches-levels-unseen-since-2014

The Greek stock market continued its impressive rally on Wednesday, with the benchmark soaring to levels unseen since before SYRIZA and Alexis Tsipras’ stint in power from 2015 to 2019: The last time the main index stood above 950 points was in December 2014. On Wednesday an HSBC report recommended the purchase of Greek bank stocks, seeing great potential for cash flow in the local market. Cash duly flowed into the bourse, with turnover continuing to rise.

The Athens Exchange (ATHEX) general index closed at 950.38 points, adding 1.69% to Tuesday’s 934.61 points. The large-cap FTSE-25 index expanded 1.66%, ending at 2,298.83 points, and the banks index advanced 1.10%.

Jumbo soared 4.99%, Quest Holdings climbed 3.97%, ElvalHalcor grew 3.79%, Hellenic Petroleum improved 3.56%, GEK Terna earned 3.54% and Titan Cement collected 3.22%, as Coca-Cola HBC conceded 0.69%.

In total 96 stocks posted gains, 17 sustained losses and 16 remained unchanged.

Turnover amounted to 126.1 million euros, up from Tuesday’s €115.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.61% to 68.16 points.