ECONOMY

Stocks clear 1,500-point resistance

Stocks on the Athens bourse rose yesterday, thanks to the positive climate in European markets and favorable comments by Fitch Ratings on the Greek economy. The Athens Exchange (ATHEX) general index closed at 1,503.07 points yesterday, growing 3.66 percent from Monday’s close at 1,450.06 points. The blue chip FTSE/ATHEX 20 index rose 4.30 percent to end at 713.28 points. European Economic and Monetary Affairs Commissioner Olli Rehn’s pledge that European banks will receive funds if needed from the EU support package also propelled stocks higher. Public Power Corporation was the only blue chip to head south (down 0.35 percent), having outperformed its peers the day before. Marfin Investment Group saw the biggest rise (up 8 percent), followed by Ellaktor (7.37 percent), Eurobank EFG (6.78 percent), Jumbo (5.77 percent) and Coca-Cola HBC (5.05 percent). A total of 104 stocks went up, 51 headed down and 55 remained unchanged. Livanos led the gainers with a 14.29 percent rise, while Medicon was the worst off, ending 19.00 percent down on the day. Turnover came to 67.2 million euros, up from 38.1 million on Monday.