Late stock rally shows little will change after elections

Unaffected by the country’s credit upgrade by Fitch, the Athens bourse benchmark spent most of the day on Friday hovering around Thursday’s level. However, it enjoyed a significant rise in the last couple of hours as confidence that Sunday’s elections will not harm political stability grew.

The Athens Exchange (ATHEX) general index closed at 1,171.15 points, adding 1.75 percent to Thursday’s 1,150.97 points. On a weekly basis it rose 7.62 percent. The blue chip FTSE/ATHEX 25 rose 1.78 percent to 377.08 points.

GEK Terna was the day’s champion, adding 4.73 percent, while Hellenic Petroleum fell 2.60 percent.

In total 81 stocks posted gains, 38 took losses and 23 were non-movers. Turnover came to 155.4 million euros, up from Thursday’s 139.3 million.