Greek stocks resume rally in the ASE on Wednesday

Greek stocks resumed their upward trend in the Athens Stock Exchange on Wednesday after Tuesday’s sell-off, with buying activity focusing on bank shares as investors reacted positively to news that the terms of a new stress test round for banks would prove better than expected by market analysts.

The general index of the market rose 1.24 pct to end at 878.83 points, after falling as much as 1.22 pct early in the day. The Large Cap index rose 0.95 pct and the Mid Cap index rose 1.05 pct. Turnover was a strong 115.432 million euros in volume of 81,386,884 shares.

Eurobank (7.14 pct), Pireus Bank (6.45 pct), PPC (4.12 pct) and Aegean Airlines (3.27 pct) scored the biggest percentage gains of the day among blue chip stocks, while Folli Follie (2.33 pct), OPAP (2.26 pct) and Coca Cola HBC (1.15 pct) suffered heavy losses. Among market sectors, Banks (4.33 pct), Oil (2.54 pct) and Financial Services (2.30 pct) scored gains, while Commerce (2.27 pct) and Travel (1.28 pct) suffered losses. National Bank and Eurobank were the most heavily traded securities of the day. Broadly, advancers led decliners by 81 to 42 with another 20 issues unchanged. Yalco (15.38 pct), Profile (11.91 pct) and Papoutsanis (10.48 pct) were top gainers, while Boutaris (10.11 pct), Vioter (10 pct) and Minerva (10 pct) were top losers.