Greek stocks soar in early trade

GMT 13:03 2015 Monday ,02 February

Arab Today, arab today Greek stocks soar in early trade

Newly elected Greek Prime Minister Alexis Tsipras
Athens - AFP

Greek stocks jumped more than five percent in early trade on Monday as the new anti-austerity government pressed a charm offensive in European capitals.
The Athens stock market, which endured a volatile week following the victory of the hard left Syriza party in the January 25 election, gained 5.90 percent to reach 765 points in early trading.
It later slipped back slightly to be 4.55 percent higher at 754 points at around 0920 GMT.
The banking index, which was particularly hard hit last week, surged 12.83 percent.
Greece's Prime Minister Alexis Tsipras was in Cyprus on Monday at the start of a tour that will include Rome, Paris and Brussels, while his finance minister, Yanis Varoufakis, was due in London after visiting Paris on Sunday.
The government took office with promises to renegotiate Greece's huge international bailout programme and halve the country's debts, and within days it had scrapped the privatisation of Greece's two main ports and the state power company.
Those moves sent the Athens market diving on Wednesday, although it later rallied.
Tsipras sought to calm the waters at the weekend, insisting Greece had no intention of reneging on its commitments to its creditors, the International Monetary Fund and the European Union.

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