Massive rise in bourse on Monday

Greek stocks enjoyed a healthy rebound on Monday thanks to the completion of the early recapitalization process that saw 18 billion euros boosting the liquidity of the country’s four main commercial lenders, as well as the opinion polls on Sunday that showed voters swinging back in favor of pro-bailout parties such as New Democracy and PASOK ahead of the June 17 election.

The Athens Exchange (ATHEX) general index will start Tuesday’s trading from 518.49 points, expanding by 6.87 percent from Friday’s closing figure of 485.18 points. This was the biggest daily rise of the benchmark index in the last eight months. Similarly, the blue chip FTSE/ATHEX 20 index added 6.80 percent.

Marfin Investment Group soared by 16.26 percent to lead blue chips, followed by Motor Oil (up 11.84 percent) and Hellenic Petroleum (10.62 percent).

The only blue chips to contract were Cyprus Popular Bank (down 13.13 percent) and METKA (0.48 percent).

In total, 89 stocks recorded gains and 30 posted losses.

Turnover amounted to just 28.7 million euros, down from last Friday’s 32.9 million.

Ekathimerini.com