ATHEX: S&P sends index near to three-year highs

Greece's credit rating upgrade by Standard & Poor's from B- to B, with a positive outlook, continued to bolster the local stock market on Monday, sending the benchmark to highs unseen in almost three years. The Eurogroup meeting was seen as a mere formality and did not affect proceedings at Athinon Avenue.

The Athens Exchange (ATHEX) general index ended at 858.12 points, the highest closing since March 2015, adding 1.25 percent to Friday's 847.56 points. The large-cap FTSE-25 index expanded 0.93 percent to 2,202.10 points, and mid-caps jumped 2.59 percent.

The banks index rose 2.06 percent, fed by the S&P estimate that there will be no need for a further recapitalization. Piraeus soared 8.33 percent, Eurobank climbed 2.14 percent and National improved 1 percent.

Piraeus Port Authority increased 4.52 percent, PPC ascended 4.35 percent on high interest in...