ECONOMY

ATHEX: Stock index climbs near 4.5-year high

athex-stock-index-climbs-near-4-5-year-high

The Greek stock market’s benchmark appears to be working its way free of the range it has been trapped in for the last four-and-a-half years, as on Wednesday it climbed to its highest point since February 2015.

That was largely thanks to the market’s favorable opinion of the European Union senior official appointments, as well as the prospect of an investor-friendly government in Athens after Sunday’s election. It was the sixth consecutive day of growth for the main index, with turnover topping 100 million euros.

The Athens Exchange (ATHEX) general index closed at 891.31 points, adding 1.93 percent to Tuesday’s 874.47 points. The large-cap FTSE-25 index expanded 1.89 percent to end at 2,269.70 points.

Public Power Corporation stole the show with its 15.07 percent jump. The banks index earned 1.86 percent, as Alpha climbed 2.86 percent, National collected 2.03 percent, Piraeus grabbed 1.96 percent and Eurobank increased 0.69 percent.

In total 79 stocks rose, 31 took losses and 28 remained unchanged.

Turnover amounted to 106.7 million euros, up from Tuesday’s 63.7 million.

In Nicosia the general index of the Cyprus Stock Exchange contracted 0.44 percent to close at 72.72 points.