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Economy

Greek Stocks Rise to New 8-Year High

January 18, 2023

ATHENS – Greek stocks continued moving higher for the 11th session out of the first 12 sessions of 2023, in the Athens Stock Exchange on Wednesday.

The general index of the market rose 0.26% to close at 989.58 points, for a net gain of 6.43% so far this year, rising to new 8-year highs, accompanied by a strong increase in turnover.

The Large Cap index ended 0.12% higher and the Mid Cap index rose 0.34%. Turnover jumped to 191.012 million euros in volume of 71,990,410 shares. Piraeus Bank (3.03%), GEK Terna (2.94%) and Piraeus Port (2.78%) scored big gains among blue chip stocks, while Titan (-2.60%), Quest Holdings (-1.85%) and Motor Oil (-1.76%) suffered losses. Among market sectors, Financial Services (1.60%) and Raw Materials (1.18%) moved up, while Oil (-1.57%) and Telecoms (-0.67%) moved down. Alpha Bank and Eurobank were the most heavily traded securities of the day. Broadly, advancers led decliners by 60 to 43 with another 23 issues unchanged.

Foodlink (25.22%) and Xylemporia (25%) were top gainers, while Bitros (-13.04%) and Haidemenos (-5.45%) were top losers.

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ATHENS - If the Bank of Greece did not operate under the protection of the institutional framework of independence, after what happened in 2015, the country would have perhaps left the eurozone, Bank of Greece (BoG) governor, Yannis Stournaras, said on Saturday during the Kathimerini conference in a panel titled: "In the next 50 years, is Democracy safe?" Is Greece reformable?" "Who doubts that if it wasn't for the Bank of Greece, we might not be in the euro after the adventure of 2015?" he said.

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