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Athens Stock Exchange: The “Greek Party” that Rallied with 6.87%

It looks as if the markets have been anticipated for a pro-bailou party like conservative Nea Dimocratia to head public opinion polls ahead the June 17 elections. Other than this, there is no other explanation as to why Athens Stock Exchange rallied with +6.87% and General Index closed at 518.49 points. At noon time, the General Index had shown also +7.36% and had reached 520.90 points.

The banking sector closed at +6.34% and 204.39 points, while it reached sporadically +7.70% during Monday’s session. Alpha Bank and Eurobank recorded +9%.

 Having lost 31% of its value since early May, the General Index of Athens Stock Exchange reacts upwards on Monday, with the market looking for … direction on the results of election polls.
Moving in positive territory since the beginning of trading, the General Index stays above  the 500 points, while the banking index climbs 4.53%.

From FTSE20 index the highest percentage gains are recorded by MIG which rises 8.37%, Eurobank, FFGroup and Motor Oil move up 5%, while NBG gains 4.96% at 1.27 euros.
The trading activity is expected to remain moderate because of the holiday on Wall Street, while the markets in Denmark, Iceland, Luxembourg, Norway and Switzerland are closed as well.

On the board, the General Index stands at 500.02 points, up 3.06% with a volume of 5.7 million units and a turnover of 5.5 million.

Earlier in the General Index was gaining up to 3.16%.

The banking index rises 4.085 at 200.04 points.

It has to be noted that 57 shares move up, 13 decline and 16 remain unchanged. ( at 12:05 pm)

Four public opinion polls published on Sunday showed conservative Nea Dimocratia heading in the voter’s preference.

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One comment

  1. keeptalkinggreece

    rather it wasn’t, the news was leaked to reuters by ‘source’ after the ASE was closed. We often see how markets react to politics. Sometimes it takes only a ‘displaced’ articulated “Ah!”…