ECONOMY

ATHEX in limbo as FTSE keeps it among developed markets

The FTSE Group’s decision to retain the Greek bourse’s classification as a developed market did not affect the rising course of the majority of local stocks on Tuesday, which took the benchmark index over the 1,000-point level.

The Athens Exchange (ATHEX) general index closed at 1,016.11 points, advancing 2.60 percent from Monday’s 990.32 points. The large-cap FTSE/ATHEX 25 expanded 2.41 percent to end at 344.72 points, though the small-cap index contracted 0.51 percent.

While the MSCI index reclassified the Athens bourse as emerging as of November 2013, FTSE chose to keep it among developed markets, which leaves the ATHEX in a state of limbo.

Marfin Investment Group outperformed adding 7.58 percent.

In total 103 stocks posted gains, 35 registered losses and 18 stayed put.

Turnover amounted to 58.4 million euros, up from Monday’s 42.4 million.