ATHEX: Stocks head north on hopes of a deal
Expectations of a long-awaited deal between the government and its creditors in the coming days led to major daily gains in the domestic stock market on Wednesday, especially after French President Francois Hollande’s statement that an agreement was a matter of days if not hours.
The Athens Exchange (ATHEX) general index closed at 838.22 points, growing 4.13 percent from Tuesday’s 804.96 points. The large-cap FTSE/ATHEX 25 index expanded 4.61 percent to close at 251.98 points.
The bourse has repeatedly seen optimism peak and then crumble depending on reports on the course of the negotiations. It may therefore prove hard for the banking sector to hold on to the 8.95 percent gains its index registered on Wednesday.
National Bank grew 11.61 percent, Piraeus climbed 9.13 percent, OTE telecom rose 8.50 percent and Alpha Bank advanced 7.81 percent. The only blue chip to head south was Coca-Cola HBC, by 0.46 percent.
In total 88 stocks reported gains, 22 sustained losses and 14 closed unchanged.
Turnover amounted to 109.3 million euros, against Tuesday’s 104.4 million.
