ECONOMY

Greek stocks enjoy rally on ECB streamlining

Market expectations that the next government will be pressured by the European Central Bank into adhering to a pro-reform policy framework, thanks to the strings attached to the bond-buying program for Greece, sent stocks and trading volume on Athinon Avenue soaring on Friday.

The Athens Exchange (ATHEX) general index closed at 840.44 points, adding 6.14 percent to Thursday’s 791.80 points.

On a weekly basis it expanded by 6.31 percent.

The large-cap FTSE/ATHEX 25 index rose 6.56 percent to end at 266.70 points.

All blue chips headed north, as Piraeus Bank expanded 13.83 percent, Jumbo added 12.64 percent and Hellenic Exchanges grew 10.99 percent.

In total 98 stocks reaped gains, 24 posted losses and 12 ended unchanged.

Turnover amounted to 243.7 million euros, over three times Thursday’s 75.2 million.