Bourse index expands by almost 5 pct

The European Central Bank’s decision to accept Greek state bonds as collateral for the supply of cash, and the upgrading of Greece’s credit rating by Standard & Poor’s saw local stocks secure massive gains in Wednesday’s session, in line with general optimism in international markets.

The Athens Exchange (ATHEX) general index ended at 878.41 points, soaring 4.81 percent from Tuesday’s 838.08 points. The large-cap FTSE/ATHEX-25 index expanded by 5.69 percent to end at 305.04 points.

As a result, after four consecutive days of losses, the main index of the bourse has reversed its course, flirting with 900 points as the year approaches its end.

Banks enjoyed a 9.94 percent rise, led by Eurobank Ergasias, which added 12.37 percent, Piraeus, up 11.25 percent, and National, which expanded by 10.40 percent.

The biggest rise among non-banking stocks was for Marfin Investment Group (up 9.23 percent), with all 25 blue chips heading north.

A remarkable 124 stocks registered gains, 32 suffered losses and 21 remained unchanged.

Turnover amounted to 63.8 million euros, up from 49 million on Tuesday.

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