ATHEX: Bourse index leaps up to 9-year high

The benchmark of the Greek stock market soared to levels unseen since July 2014 on Monday thanks to the election result on Sunday that has opened the way for ruling New Democracy to score a new four-year mandate. Banks saw particularly notable growth on a day that added over 5.4 billion euros to the local stock market’s capitalization, while the high turnover highlighted investor eagerness to position themselves at Athinon Avenue.

The Athens Exchange (ATHEX) general index closed at 1,201.32 points, adding 6.09% to Friday’s 1,132.34 points. The large-cap FTSE-25 index expanded 6.95% to end at 2,959.46 points.

The banks index skyrocketed 12.47%, as National jumped 15.30%, Alpha gained 14.17%, Piraeus grabbed 13.50% and Eurobank advanced 8.50%. Public Power Corporation outperformed with a 15.93% rise and Mytilineos collected 7.74%.

In total 101 stocks posted gains, 20 endured losses and nine remained unchanged.

Turnover amounted to €361.8 million, up from last Friday’s €78.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased just 0.01% to close at 109.07 points.