Greek stocks rallied on Thursday ahead of parliamentary elections over the weekend, recording the biggest percentage increase in the last 10 months since August 2011.
The Athens General Index jumped 10.1% to 550.10 in an otherwise negative European stock market where the Stoxx Europe 600 index slipped 0.5%. The share of National Bank of Greece surged 26%.
Sunday’s vote is the second parliamentary election in two months, and market spectators worry that Greece΄s future in the euro zone depends on the election results. The issue is whether anti-austerity party Syriza will gather enough support to form a government, potentially leading to a fallout with the European Union over the country΄s bailout terms.
With significantly enhanced volume and 86.1 million units with a turnover of 81.5 million, the General Index was moving upwards throughout the trade, reached intraday up to 10.39% at 551.48 points.
The banking index “jumped” 26.42%, closing at 224.21 points up 23.39%.
(source: capital)
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