ATHEX: Benchmark closes at 9-year high

The market’s growing optimism about political stability in Greece after the elections and the favorable views on Greek banks by foreign firms contributed to a significant rebound of local stocks on Tuesday that sent the Athens benchmark to levels unseen in nearly nine years. The price rise also came with an increase in turnover, which approached 100 million euros.

The Athens Exchange (ATHEX) general index closed at 1,136.44 points, the highest since September 2014, adding 1.32% to Monday’s 1,121.65 points. The large-cap FTSE-25 index expanded 1.70% to end at 2,777.39 points.

The banks index soared 4.35%, thanks to Eurobank jumping 5.27%, National collecting 5.06%, Piraeus climbing 3.93% and Alpha growing 2.53%.

Aegean Airlines soared 2.83%, OTE telecom improved 2.15% and Helleniq Energy augmented 1.93%, while Ellaktor parted with 2.59%.

In total 56 stocks posted gains, 39 endured losses and 22 remained unchanged.

Turnover amounted to €96.4 million, up from Monday’s €82.9 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.41% to 109.94 points.