Athens Stock Exchange (ASE) surges in wake of Sunday’s election result

Traded shares on the Athens Stock Exchange (ATHEX) on Monday reached a nine-year high, with investors reacting very positively to New Democracy (ND) party’s landslide election victory a day earlier.

According to market watchers, Sunday’s result reduced political risk in the country, even though a repeat ballot will be probably held in late June or early July, while judged as facilitating a forthcoming upgrade of Greek debt with an investment grade rating this year.

The general index gained 6.09 percent, and closed at 1,201.32 points, the highest level since July 28, 2014.

The Large Cap index was boosted by 6.95 percent and the Mid Cap index was up by 3.85 percent. Turnover was a noteworthy 360.22 million euros in volume, dramatically increased from previous sessions.