ECONOMY

Bourse’s benchmark index surmounts 1,100 points

Local stocks continued to rally on Wednesday, fueled by Greece’s credit rating upgrade by Fitch late on Tuesday, the announcement of plans for the part-privatization of Public Power Corporation (PPC) and increasing optimism about the successful completion of the recapitalization of the credit sector.

The Athens Exchange (ATHEX) general index closed at 1,113.67 points, adding 3.74 percent to Tuesday’s 1,073.47 points.

The large-cap FTSE/ATHEX-25 index climbed 4.44 percent to end at 384.33 points.

Nine blue chips reached their highest point of the year so far. They were Alpha Bank (up 7.63 percent), OTE (3.02 percent), OPAP (4.75 percent), Piraeus Bank (19.57 percent), Corinth Pipeworks (3.27 percent), Hellenic Exchanges (6.15 percent), Intralot (8.33 percent), Ellaktor (5.93 percent) and PPC (7.52 percent).

Eurobank outperformed again, posting a daily rise of 26.57 percent.

Titan was the only large-cap to go down, losing 0.70 percent.

In total 130 stocks posted gains, 35 suffered losses and 22 stayed put.

Turnover amounted to 143.8 million euros, up from Tuesday’s 108.4 million.