ECONOMY

Draghi comments send bank stocks soaring

draghi-comments-send-bank-stocks-soaring

The statements by the head of the European Central Bank, Mario Draghi regarding a possible inclusion of Greece in the QE bond-buying program and his banishing of the fear for a deposit haircut in the recapitalization process of Greek banks sent bank chips soaring and the benchmark of the local market adding over 22 points on Thursday.

The Athens Exchange (ATHEX) general index closed at 649.05 points, adding 3.61 percent to Wednesday’s 626.46 points. The large-cap FTSE 25 index expanded 2.77 percent to end at 189.50 points.

The banks’ sectoral index grew 12.39 percent as Alpha climbed 22.22 percent, Attica Bank rose 17.14 percent and Piraeus advanced 13.41 percent. Public Power Corporation added 10.38, as all blue chips headed northward.

In total 73 stocks posted gains, 25 suffered losses and 12 stayed put.

Turnover amounted to 34.2 million euros, up from Wednesday’s record low of 14.5 million.