ECONOMY

ATHEX: Fifth day of gains for local stocks

The preparation of a bill meant to appease Greece’s creditors and the optimism generated by the sidelining of Finance Minister Yanis Varoufakis from the negotiating team with the eurozone extended the Greek stock market’s rising streak to five sessions on Tuesday. This allowed the benchmark to clear 800 points, in the hope that the optimism will not once again prove unfounded.

The Athens Exchange (ATHEX) general index closed at 806.01 points, adding 1.41 percent to Monday’s 794.84 points. The large-cap FTSE/ATHEX 25 index expanded 1.31 percent to close at 241.65 points, though small-caps declined for a second day, by 0.05 percent.

The five-day rise – unseen in the last six months – has seen the general index climb 14.37 percent.

Motor Oil outperformed other blue chips on Tuesday, jumping 9.48 percent, followed by Ellaktor (up 7.10 percent) and Piraeus Bank (7.04 percent). Jumbo gave up 2.74 percent.

In total 69 stocks reported gains, 34 sustained losses and 24 remained unchanged.

Turnover amounted to 99.5 million euros, up from Monday’s 96 million.