ATHEX: Stock index advances to 40-day high

The Greek stock market made it nine sessions of price growth in a row on Wednesday as most stocks registered moderate gains, although the main index again failed to surpass the psychologically significant 1,100-point milestone. It still climbed to a 40-day high and enjoyed the longest sequence of rising sessions in over 20 months. Observers say the market continues to price in an anticipated credit rating upgrade to investment level for Greece, which could come as early as next week.

The Athens Exchange (ATHEX) general index closed at 1,095.91 points, adding 0.29% to Tuesday’s 1,092.75 points. The large-cap FTSE-25 index expanded 0.25% to end up at 2,650.26 points.

The banks index advanced 0.72%, as Piraeus grew 1.39%, Alpha collected 0.85%, Eurobank earned 0.64% and National improved 0.32%. Autohellas jumped 5.08% and Jumbo rose 4.07%, but Motor Oil eased 3.28%.

In total 59 stocks made gains, 46 suffered losses and 22 remained unchanged.

Turnover amounted to 102.1 million euros, down from Tuesday’s €105.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange rebounded 0.53% to close at 107.67 points.