Last-ditch deal sends stocks higher

The eleventh-hour agreement on the new bailout package for the Greek economy by the leaders of the political parties supporting the government secured gains for the majority of local stocks on Thursday, yet banks begged to differ. The Athens Exchange (ATHEX) general index ended the day at 823.96 points, adding 1.83 percent to Wednesday’s closing figure of 809.12 points. The blue chip FTSE/ATHEX 20 index gained 1 percent to close at 345.07 points. The reduction of the target price of six banks by HSBC cost their sectoral index a 1.53 percent drop. Motor Oil gained 7.03 percent and Public Power Corporation added 6.60 percent. In total, 114 stocks registered gains, 57 posted losses and 19 remained unchanged. Turnover amounted to 106.2 million euros, against Wednesday’s 111.7 million.

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