ECONOMY

Stocks rise on market optimism

Market optimism regarding the disbursement of the fifth tranche of the Greek bailout package tonight by Eurogroup ministers and the German participation in the French plan for a Greek debt rollover took the main index of the local bourse above the 1,300-point level on Friday for the first time in 18 sessions.

The Athens Exchange (ATHEX) general index ended at 1,308.48 points, adding 2.30 percent to Thursday?s close at 1,279.06 points. The blue chip FTSE/ATHEX 20 index gained 3.18 percent to end at 593.35 points. Nevertheless, the mid-cap FTSE/ATHEX 40 index rose by just 0.29 percent.

The sectoral index for banks climbed 5.27 percent as lenders led the way among blue chips.

ATEbank outperformed with growth of 11.03 percent, Eurobank EFG followed with gains of 7.43 percent and National Bank expanded by 5.48 percent. Jumbo (down 1.15 percent) and OTE telecom (0.47 percent) were the only losers of the day.

In total, 93 stocks moved up, 42 went down and 45 remained unchanged. Euromedica posted the biggest rise, with gains of 20 percent, while Boutaris led the losers, declining by 9.09 percent.

Turnover rose to 97.6 million euros on Friday from 71 million euros on Thursday.