Donald Trump’s statement that the termination of the conflict in the Middle East may well be close sent stocks soaring across the western bourse, and Athinon Avenue made the most of it, closing with considerable gains and turnover on Wednesday. While most people agree this is mere speculation, as traders seek to buy the prospect of peace before selling it when an agreement actually materializes, it is certain that the local market has more reasons for a further advance than for a decline.
The Athens Exchange (ATHEX) general index closed at 2,299.87 points, adding 3.17% to Tuesday’s 2,229.19 points. The large-cap FTSE-25 index expanded 3.40%, ending at 5,841.87 points.
The banks index jumped 4.98%, as Alpha surged 7.86%, Eurobank rose 6.85%, Piraeus grabbed 5.31%, Bank of Cyprus improved 3.94% and National collected 3.03%. Viohalco outperformed, climbing 10.90%, but Hellenic Energy lost 3.23%.
In total 79 stocks obtained gains, 32 showed losses and 12 remained unchanged.
Turnover amounted to €438.7 million, up from Tuesday’s €223.3 million.
In Nicosia, the general index of the Cyprus Stock Exchange increased 2.31% to 290.69 points.