ECONOMY

Bourse enjoys healthy gains on optimism

The prospect of convergence between Athens and its creditors on a technical extension of the Greek bailout agreement, coupled with some signs that Parliament may elect a president and prevent snap polls sent stocks soaring on Friday, though this time it was non-banking blue chips that led the way.

The Athens Exchange (ATHEX) general index closed at 1,032.98 points, adding 4.14 percent from Thursday’s 991.87 points. On a weekly basis it grew 7.25 percent, with the banks’ index gaining 7.04 percent.

The large-cap FTSE/ATHEX 25 index expanded on Friday by 4.15 percent to 335.01 points, with mid-caps faring even better as they climbed 5.61 percent.

Aegean Airlines, which as of Monday will take Intralot’s spot in the blue-chip index, flew 8.11 percent higher. Intralot rose 1.65 percent. They were all beaten by Viohalco, which advanced 10.73 percent, while Folli Follie – whose contribution in the FTSE-25 will be reduced from Monday – dropped 0.97 percent, and Grivalia Properties stayed put.

In total 98 stocks reported gains, 15 bucked the trend and dropped and 19 closed unchanged.

Turnover amounted to 104 million euros, up from Thursday’s 91.6 million.