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Athex jumps 7%

12/02/2015 18:18
Investors chose to ignore yesterday's negative results of the emergency Eurogroup discounting expectations of a successful outcome in the coming scheduled meeting.

This drove the Athens stock exchange to much higher levels with the banks being once again the main protagonists.

The ASE general index moved 6,73% higher, closing at 846,48 while the FTSE was up by 8,12% at 254,23.

The banking sector index closed at 572,81 increasing by 14,1% as all of the big banks managed double digit increases.

ETE at €1,18 was up 18%, ALPHA closed at €0,35, 14,8% higher, EUROB at €0,168 up by 12,8% and TPEIR at €0,64, 10%.

Contributing to the positive climate at the late stages of the session were reports that the ECB has extended its permission for the ELA facility till February 18 while at the request of the Greek government, there was an increase of the ELA limit by about €5 bn. to €65 bn.

Of course, a prerequisite for the ELA facility to keep getting approved by the ECB is for the Greek banks to remain solvent and this will be accessed on a regular basis.

The ECB board will reconvene on February 18.

In Cyprus the CSE general index closed marginally lower at 75,46.

BOCY closed at €0,18 in both exchanges, down by 0,6% and HB unchanged at €0,034.