ECONOMY

ATHEX: Strong rise in stock market led by PPC

athex-strong-rise-in-stock-market-led-by-ppc

The decision by the European Central Bank to include Greece in an emergency bond-buying program gave Greek securities a much-needed boost on Thursday, with sovereign bond yields tumbling and stocks jumping at Athinon Avenue. Public Power Corporation closed almost at its limit-up, while banks struggled to keep up with the other blue chips.

The Athens Exchange (ATHEX) general index ended at 525.29 points, adding 7.79 percent to Wednesday’s 487.35 points. The large-cap FTSE 25 index expanded 8 percent to 1,270.18 points.

Τhe banks index increased 2.87 percent, as Eurobank grew 5.13 percent and National climbed 2.71 percent.

PPC shot up 28.41 percent, and Titan Cement surged 16.15 percent. The prospect of the suspension of all international flights in Greece saw Aegean Air’s stock bucking the trend, losing 4.29 percent.

In total 90 stocks registered gains, 21 sustained losses and 11 remained unchanged.

Turnover amounted to 68 million euros, up from Wednesday’s 60 million.

The general index of the Cyprus Stock Exchange decreased 0.94 percent to close at 47.51 points.