ECONOMY

Market sees gov’t yielding after pressure

The strong words from European Central Bank Governor Mario Draghi on Thursday apparently convinced investors that the government will be forced to yield on a number of issues, leading stocks to a moderate rebound on the Greek bourse.

The Athens Exchange (ATHEX) general index closed at 857.54 points, adding 0.99 percent to Wednesday’s 849.16 points. The large-cap FTSE/ATHEX 25 index expanded 1.88 percent to end at 254.02 points.

National Bank added 7.20 percent despite the rejection by the Hellenic Financial Stability Fund (HFSF) of the plan for the sale of a stake up to 26.9 percent in Turkish subsidiary Finansbank and the annulment by the Council of State of a part of the sale plan for the Astir Palace Resort. Eurobank rose 7.50 percent while EYDAP gave up 5.73 percent.

In total 56 stocks advanced, 50 dropped and 21 stayed put.

Turnover amounted to 66.3 million euros, down from Wednesday’s 68.9 million.