ECONOMY

Bourse rally continues on high volume

The combination of last week’s investment news concerning Fairfax along with the progress finally seen on the privatizations front gave fresh impetus to the local bourse, whose benchmark on Monday recorded yet another year-high, while turnover (not including prearranged sales) soared to the highest level in five months.

The Athens Exchange (ATHEX) general index closed at 1,196.84 points, adding 2.64 percent to Friday’s 1,166 points. The large-cap FTSE/ATHEX 25 expanded by 2.63 percent to end at 397.72 points.

Just as more and more people had been anticipating a swift return to lower price levels following a five-week buying spree, the bourse defied expectations, with the majority of stocks enjoying another session of major gains.

Warrants continued to woo investors, with the bank index climbing by 6.94 percent. Eurobank Properties, which along with Pangaia SA landed the 28 state buildings in the sell-and-leaseback tender on Saturday, grew 9 percent. National, the owner of Pangaia, added 8.11 percent. OPAP lost 2 percent.

In total, 100 stocks recorded gains, 45 sustained losses and 22 remained unchanged.

Turnover amounted to 193.3 million euros, up from last Friday’s 163.6 million.