ATHEX: Banks receive much-needed price boost

The submission of the Hercules asset protection scheme in Parliament around midnight on Tuesday gave Greek stocks the boost they had so desperately needed over the last couple of weeks, sending the benchmark at Athinon Avenue over 2.5 percent higher on Wednesday on significantly increased turnover.

The Athens Exchange (ATHEX) general index ended at 883.96 points, adding 2.59 percent to Tuesday’s 861.67 points. The large-cap FTSE 25 index expanded 2.71 percent to 2,228.62 points.

The banks index jumped 4.53 percent as Alpha soared 5.59 percent, Eurobank grabbed 4.56 percent, Piraeus earned 4.52 percent and National improved 2.91 percent. Ellaktor outperformed, collecting 5.91 percent, Public Power Corporation almost matched it with its 5.89 percent jump, Jumbo increased 4.19 percent and Viohalco augmented 3.16 percent.

In total 87 stocks enjoyed gains, 15 sustained losses and 21 remained unchanged.

Turnover was the highest of the last 11 sessions, at 87.1 million euros, up from Tuesday’s 60 million.

In Nicosia the general index of the Cyprus Stock Exchange advanced 0.54 percent to 65.55 points.