Bourse inches up as it waits for European Council

The local stock market posted fresh gains on Wednesday in anticipation of the European Council meeting on Thursday and Friday in Brussels, although the Eurogroup’s approval of a Cypriot bailout did little to bolster the day’s low turnover.

The Athens Exchange (ATHEX) general index ended at 579.69 points, adding 0.67 percent to Tuesday’s level of 575.83 points. The blue chip FTSE/ATHEX 20 index grew by 0.82 percent to close at 213.37 points.

The Eurogroup news boosted Cyprus Popular Bank, which outperformed local blue chips with gains of 8 percent, followed by Eurobank EFG (up 4.51 percent), while Bank of Cyprus lost 7.59 percent.

In total, 69 stocks posted gains, 44 recorded losses and 18 remained unchanged.

Turnover amounted to 31.8 million euros, down from Tuesday’s 46 million. 

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