ATHEX: Will euphoria in markets be temporary?

ATHEX: Will euphoria in markets be temporary?

The swift resolution of the government crisis in the UK and the rapid decline of natural gas rates gave European stocks a fresh push on Monday, with the Greek market’s benchmark rising to a new two-month high. The market expects the European Central Bank to raise its interest rates further on Thursday, but it is the ECB chief’s statements that will likely matter most.

The Athens Exchange (ATHEX) general index closed at 866.25 points, adding 1.32% to Friday’s 854.99 points. The large-cap FTSE-25 index expanded 1.42% to end up at 2,097.61 points.

The banks index advanced 1.91%, as Eurobank collected 2.08%, Alpha climbed 1.94%, National grew 1.92% and Piraeus improved 1.37%.

Motor Oil jumped 3.07%, Aegean Airlines rose 2.99% and ElvalHalcor collected 2.96%, while Sarantis was down 2.43%.

In total 67 stocks secured gains, 28 reported losses and 22 remained unchanged.

Turnover amounted to 50.8 million euros, up from last Friday’s €41.9 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.09% to close at 75.76 points.

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