ECONOMY

Fresh growth for stocks as fears subside

Growing optimism among traders and investors that this month’s elections will not result in a leap into the unknown for the economy, reflected also in statements by Finance Minister Gikas Hardouvelis, gave local stocks fresh impetus on Friday, although turnover remained very low in what was the first session of the new year.

The Athens Exchange (ATHEX) general index closed at 836.24 points, adding 1.22 percent to Wednesday’s 826.18 points. On a weekly basis it contracted 1.99 percent.

The large-cap FTSE/ATHEX 25 index expanded 1.17 percent to end at 267.97 points, while mid-caps outperformed again, rising 4.12 percent.

The majority of blue chips enjoyed growth, led by Aegean Airlines (up 6.23 percent), Piraeus Bank (4.95 percent), Viohalco (4.84 percent), OPAP gaming company (4.38 percent) and PPC (2.78 percent). Coca-Cola HBC declined 2.74 percent and Jumbo contracted 0.94 percent.

In total 85 stocks registered gains, 24 recorded losses and nine remained unchanged.

Turnover amounted to 29.3 million euros, up from Wednesday’s 28.2 million.