ECONOMY

Virtually all stocks post gains in 8 percent rally

Stocks in the local market staged an impressive rebound yesterday, recovering a great amount of losses from previous days. The Athens Exchange (ATHEX) general index closed at 4,426.53 points yesterday from 4,098.75 points on Wednesday, a rise of 8.00 percent. The blue chip FTSE/ATHEX 20 index grew by 8.17 percent, reaching 2,353.10 points. The mid-cap FTSE/ATHEX 40 index expanded by 7.39 percent, while the small-cap FTSE/ATHEX 80 index posted an increase of 4.24 percent. The FTSE/ATHEX International was up 8.04 percent to 6,210.08 points. The biggest gains among blue chips were for Public Power Corporation (up 13.16 percent), Marfin Popular Bank (10.82 percent), National Bank (10.53 percent), Piraeus Bank (9.32 percent) and Alpha Bank (8.20 percent). The ratio of rising stocks to those declining was a staggering nine-to-one. All sectoral indices headed north, led by utilities (up 12.53 percent) and personal and household goods (10.99 percent). The smallest rise was for the food and drink index (up 2.75 percent). Turnover reached -593.95 million, of which -56.56 million concerned block trades. The Cypriot General Market Index rose 8.6 percent to 3,932.81 points.