Nine bullish sessions at Athens Stock Exchange (ASE), ending on Friday, generated 4.5 billion euros of profits, pushing the bourse’s total capitalization to 51 billion euros.
The surge at the ASE is mostly attributed to positive developments surrounding the pending second review of the Greek program, which in turn pushed spreads for Greek bonds downwards and boosted transactions for traded bank shares. The banking index at the ASE, since April 30, has increased by 30.4 percent, dragging the general index up by 12.3 over nine straight sessions.
The general index closed at 753.99 points on Friday, May 5.
The average turnover at the ASE stood at 121 million euros over the previous week, up a hefty 65 percent from the previous week, but significant up from average daily and weekly transactions over the previous months.
