ECONOMY

ATHEX: Biggest rise in one day since 2011

athex-biggest-rise-in-one-day-since-2011

The combination of the announcement by Pfizer regarding the successful clinical tests of its vaccine against the coronavirus, with the sudden upgrade of the Greek credit rating by Moody’s last Friday and the confirmation of Joe Biden as the next US president gave the Greek bourse benchmark its biggest daily rise in almost a decade on Monday.

The Athens Exchange (ATHEX) general index ended at 655.50 points, the highest since September 18, adding 11.46% to Friday’s 588.10 points. The large-cap FTSE 25 index expanded 12.38% to close at 1,552.23 points.

The banks index almost went through the roof (the 30% limit-up level), closing with a rise of 26.99%. National soared 29.18%, Alpha jumped 28.96%, Eurobank earned 26.17% and Piraeus improved 18.93%.

Other big winners on the day included Aegean Air (up 29.89%) Fourlis Holdings (16.64%) and Hellenic Petroleum (15.18%).

In total 102 stocks posted gains, 12 took losses and 13 stayed put.

Turnover amounted to 119.1 million euros, dwarfing last Friday’s €35.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1.29% to close at 43.88 points.