ECONOMY

PSI certainty sends local stocks soaring

The positive noises emerging a few hours before the deadline for the country?s private sector involvement plan convinced the Greek stock market on Thursday that the debt write-down is going ahead and local banks have bet on the right horse by participating in it.

The Athens Exchange (ATHEX) general index ended the day at 768.90 points, adding 3.18 percent to Wednesday?s closing level of 745.23 points. The blue chip FTSE/ATHEX 20 index expanded by 2.78 percent to close at 314.38 points.

The benchmark index was especially boosted by Coca-Cola HBC, the stock with the biggest capitalization in the market, which added 7.64 percent. It led blue chips ahead of Alpha Bank (up 5.16 percent), Viohalco (4.26 percent) and Motor Oil (4.08 percent). Titan cement was the worst off with losses of 1.93 percent.

In total, 96 stocks registered gains, 56 posted losses and 26 remained unchanged.

Turnover amounted to 63.5 million euros, up from 59.1 million on Wednesday.