ECONOMY

Bourse fears of exit from euro ease

The Greek stock market on Monday suggested it had loosened its ties to the fortunes of the two governing parties, as election day draws closer, posting significant gains on the assumption that SYRIZA leader Alexis Tsipras’s promise to keep the country in the eurozone will be fulfilled and the impact on the country from the political uncertainty will be reduced after the polls.

The Athens Exchange (ATHEX) general index closed at 809.01 points, adding 3.78 percent to Friday’s 779.56 points. The large-cap FTSE/ATHEX 25 index expanded 3.52 percent to end at 249.38 points.

This was the second day of gains, but this time the trading volume was rather higher. Turnover amounted to 78.1 million euros, up from last Friday’s 67.2 million.

Banks expanded by an impressive 5.21 percent, as National climbed 6.25 percent and Alpha rose 6.09 percent. They were beaten by Jumbo (up 9.27 percent) and Marfin Investment Group (9.20 percent). Coca-Cola HBC gave up 2.11 percent.

In total 87 stocks went up, 31 posted losses and 17 stayed unchanged.