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Greek stock market off to a strong start

With 87 stocks demonstrating gains, Greece's stock market is showing great promise for 2018

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Photo: Trade Union

05 January 2018

There's been talk circulating about Greece's economy strengthening, and now the figures are able to speak for themselves.

According to the Athens Exchange (ATHEX) general index, the Greek stock market has reached a new four month high in what is expected to be a strong 2018.

In its first session for the year on Tuesday, the market's benchmark added 2 per cent to its closing figures for 2017. On Friday the index stood at 802.37 points, and ended at 818.51 points.

The large-cap FTSE-25 index expanded 1.69 per cent to 2,118.45 points.

Meanwhile, the banks' index rose 4.37 per cent; Piraeus Bank performed best with a rise of 12.38 per cent, followed by Alpha Bank with 3.97 per cent, Eurobank 3.53 per cent and National 1.57 per cent.

PPC advanced 6.67 per cent and Terna Energy 5.22 per cent.

After a decade-long financial crisis, it was also optimistic to see a total of 87 stocks demonstrated gains, while just 16 saw losses and 24 remained the same.

The total turnover for the year came to €51 million, improving on Friday's €49.7 million.

Meanwhile Cyprus's Stock Exchange didn't perform so well with a general index decline of 0.62 per cent to 69.07 points.

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