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MARKET NEWS

Athens stocks jump to 650 points

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The greek stock market edged one step closer to a full-blown turnaround, settling to just under 650 points, in the wake of forecasts of a successful conclusion of the third bailout program review in Tuesdays Eurogroup.

 

The General Index rose by 1,50% and settled at 649,1 points, while hovering to over 650 intraday. Turnover was at 170,29 million euros with transactions of 301,8 million shares. Blue chips jumped by 1,92% to 185,67 and the mid-cap enjoyed gains of +0,52%. More importantly, bank stocks rose by 5,04%, to 61,88 units.

 

Let it be noted that levels of 650 units were last seen in November 2015. It is an indication of the markets reception of possibly very good news from the Eurogroup meeting, including a deal on greek debt. Analysts forecast that the conclusion of the bailout review will lead stocks to an upwards burst.

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