ECONOMY

Conditions for QE contain Greek stock gains

The European Central Bank’s decision to attach conditions to Greece’s inclusion in its bond-buying program diminished satisfaction at the Greek bourse about ECB head Mario Draghi’s “historic” announcements on Thursday on quantitative easing and the supply of the emergency liquidity assistance (ELA) to Greek banks.

The Athens Exchange (ATHEX) general index closed at 791.80 points, adding 1.14 percent to Wednesday’s 782.88 points. The large-cap FTSE/ATHEX 25 index expanded 1.16 percent to end at 250.28 points, while mid-caps inched up 0.15 percent.

Alpha Bank led the blue chips with a 5.78 percent increase, followed by Public Power Corporation (up 4.45 percent) and Coca-Cola HBC (3.50 percent). Piraeus Bank gave up 2.74 percent and OTE telecom declined 2.60 percent.

In total 65 stocks enjoyed gains, 34 took losses and 24 closed unchanged.

Turnover amounted to 75.2 million euros, up from Wednesday’s 58 million.