ECONOMY

ATHEX: Stocks extend their relief rally

Greek stocks continued to rally for a second day on Tuesday as the anticipated relief from the likely agreement between the government and its creditors and the sustained support of the credit system’s liquidity by the European Central Bank overrode investor concerns about a possible government crisis when the agreement reaches Parliament.

The Athens Exchange (ATHEX) general index closed at 794.98 points, adding 6.11 percent to Monday’s 749.17 points. The large-cap FTSE/ATHEX 25 index rose 6.40 percent to close at 240.63 points.

The last two days have added more than 6.4 billion euros to the market’s capitalization, despite concerns expressed by ever more observers regarding the economy’s long-term prospects given the content of the Greek proposals.

Alpha Bank outperformed with a rise of 19.61 percent, while Folli Follie added 16.28 percent.

In total 82 stocks recorded gains, 27 suffered losses and 15 remained unchanged.

Turnover amounted to 130.9 million euros, down from Monday’s 134.1 million.