STOCKS

ATHEX: Bourse index climbs to new 7-year high

ATHEX: Bourse index climbs to new 7-year high

The upward momentum on most European markets and the easing of pressure on Greek state bonds gave local stocks an adequate boost to take the benchmark almost 2% higher on Wednesday, reaching a level unseen in over seven years.

The session may have seen an increase in trading volume, thanks to share package transactions, but it is the rest of the week that will confirm whether the rise can be sustained or was temporary.

The Athens Exchange (ATHEX) general index closed at 960.32 points, the highest level since December 2014, adding 1.94% to Tuesday’s 942.06 points. The large-cap FTSE-25 index expanded 2.09%, ending at 2,346.53 points.

The banks index jumped 3.56%, as Piraeus soared 9.93%, Eurobank advanced 3.55%, Alpha grew 2.94% and National earned 1.09%.

Among the other blue chips Motor Oil rose 3.35%, while Ellaktor fell 1.03%.

In total 70 stocks posted gains, 39 endured losses and 19 remained unchanged.

Turnover amounted to 123.9 million euros, up from Tuesday’s €115.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.13% to close at 69.83 points.