ECONOMY

Improving climate sends stocks higher

The favorable atmosphere presiding over global markets and assurances about an extension to the repayment period for Greece’s international bailout loans resulted in most stocks soaring on the local bourse yesterday. The Athens Exchange (ATHEX) general index closed at 1,533.76 points, expanding by 2.74 percent from Monday’s close at 1,492.92 points. It was the first time after 13 sessions that the index rose above the 1,500-point level. The blue chip FTSE/ATHEX 20 index grew by 2.75 percent to end at 731.25 points. Observers note that barring a major international incident that could alter the atmosphere, this month will see further gains for Greek stocks ahead of the end of the year. All but one blue chip registered gains yesterday, led by Coca-Cola HBC (up 4.49 percent), Alpha Bank (4.44 percent), Piraeus Bank (4.19 percent), Eurobank EFG (4.02 percent) and National Bank (4.02 percent). Jumbo was the only blue chip to head south (down 0.57 percent). In total, 138 stocks moved up, 36 went down and 50 remained unchanged. Creta Farm led the gainers with growth of 17.87 percent, while Images & Sound and Compucon posted the biggest loss with a 14.29 percent decline. Turnover came to 109.9 million euros, up from Monday’s 62.1 million.