Investors buy into possible rating upgrade

The prospects of a Greek sovereign debt rating upgrade by Moody’s next Friday pushed most local stocks higher on Thursday on improved, but still not satisfactory, turnover.

The Athens Exchange (ATHEX) general index ended at 1,176.13 points, adding 2.07 percent to Wednesday’s 1,152.32 points. The large-cap FTSE/ATHEX 25 index expanded 1.92 percent to close at 377.52 points. Small-caps saw very little action and their index rose by just 0.11 percent.

Energy blue chips outperformed, with Hellenic Petroleum climbing 6.15 percent, GEK Terna expanding 5.11 percent and Public Power Corporation growing 3.82 percent. Viohalco followed with a 3.77 percent increase.

OTE was the only blue chip to record losses, which came to just 0.10 percent, while Coca-Cola HBC ended unchanged.

In total 83 stocks enjoyed gains, 36 took losses and 18 remained unchanged.

Turnover amounted to 97.1 million euros, up from Wednesday’s 67.6 million.