ECONOMY

Investors buy the rumor of an upcoming agreement

Expectations that Greece and its eurozone peers will agree next week to a third bailout deal within the month sent stocks on the Greek bourse soaring on Tuesday, although it is far from clear whether the eurozone is anywhere near reaching an agreement with Athens.

The Athens Exchange (ATHEX) general index closed at 826.31 points, adding 7.98 percent to Monday’s 765.22 points. The large-cap FTSE/ATHEX 25 index expanded 8.22 percent to end at 244.75 points.

Besides the Eurogroup, the market is also anticipating the composition of the new MSCI stock indexes later on Wednesday.

National Bank shot up 20.75 percent on Tuesday, Eurobank grew 19.67 percent, Ellaktor added 19.46 percent and Piraeus Port Authority rose 16.91 percent, as all blue chips headed north.

In total 93 stocks posted gains, 28 took losses and 11 closed unchanged.

Turnover amounted to 142.1 million euros, against Monday’s 85 million.