Stocks rise on budget report
The Greek bourse bucked the international trend yesterday and posted gains, riding the swell of a positive mood resulting from government plans to reduce the budget deficit earlier than originally announced as well as tighter spreads between Greek 10-year bonds and the German Bund. The Athens Exchange (ATHEX) general index closed at 2,310.11 points yesterday, expanding by 1.43 percent from Tuesday’s close at 2,277.60 points. The blue chip FTSE/ATHEX 20 index rose by 1.56 percent to end up at 1,191.41 points. Bank of Cyprus led blue chips (up 6.40 percent), ahead of Motor Oil (3.96 percent), Titan Cement (3.74 percent) and Hellenic Petroleum (3.70 percent). Falling were Ellaktor (1.50 percent) and Public Power Corporation (1.25 percent). Turnover amounted to 256.3 million euros, up from 193 million euros on Tuesday.