ECONOMY

ATHEX: Stocks rise, pinning hope on Brussels

athex-stocks-rise-pinning-hope-on-brussels

Expectations that a deal will finally be reached at the European Union summit boosted Greek stocks and bonds on Monday, with the benchmark at Athinon Avenue closing on the day’s high and the 10-year bond yield sliding four basis points to 1.13%. This combination of factors gave bank stocks a push of close to 4%.

The Athens Exchange (ATHEX) general index ended at 653.15 points, adding 1.82% to Friday’s 641.48 points. The large-cap FTSE 25 index expanded 2.05% to 1,581.47 points.

Banks advanced 3.95%, with National up 5.18%, Alpha 4.08%, Piraeus 3.61% and Eurobank 3.13%.

Hellenic Petroleum added 4.36%, Motor Oil rose 4.18%, Jumbo fetched 3.62%, Public Power Corporation improved 3.04% and Lamda Development climbed 2.20%. Coca-Cola HBC was the only blue chip to go down, contracting 0.70%.

In total 65 stocks enjoyed gains, 30 endured losses and 15 remained unchanged.

Turnover amounted to 39.8 million euros, up from last Friday’s €36.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange slipped 0.06% to 46.40 points.