ECONOMY

Bourse stages late rally following PM?s swearing-in

The Greek stock market?s benchmark index continued to rise on Wednesday, mostly thanks to a late rally following the swearing-in of the new prime minister half an hour before the end of trade.

The Athens Exchange (ATHEX) general index ended at 603.04 points, adding 0.49 percent to Tuesday?s closing figure of 600.07 points. Nevertheless, the blue chip FTSE/ATHEX 20 index gave up 1.35 percent to close at 227.01 points. Mid-caps posted a 1.78 percent rise.

Banks took a bit of a beating as investors chose to cash in on recent gains: Eurobank EFG shed 13.41 percent and Alpha lost 11.97 percent. Mytilineos added 12 percent.

In total, 66 stocks posted gains, 69 recorded losses and 21 remained unchanged. Turnover amounted to 83.1 million euros, up on Tuesday?s 71.3 million.