Stock rise for third day on brighter news

Greek equities posted gains for a third consecutive day on Wednesday, in line with stocks elsewhere in Europe which were helped by a Morgan Stanley report forecasting benefits for firms from the projected slide in the euro. The market was also bolstered by news of a near end to the Greek recession and the disbursement of a 1-billion-euro bailout tranche.

The Athens Exchange (ATHEX) benchmark index closed 1.53 percent higher, at 1,107.33 points. The large-cap FTSE-25 index gained 1.37 percent to 357 points, while the banks index, which accounted for 53 percent of turnover, rose 1.40 percent to 148 points.

National Bank advanced 1.28 percent to 2.38 euros, accounting for more than a fifth of total turnover. Piraeus Bank climbed 3.70 percent to 1.40 euros.

Motor Oil outperformed with a rise of 6.81 percent to 7.69 euros, while Hellenic Petroleum rose 1.66 percent to 5.50 euros. Folli Follie surged 5.8 percent to 30.47 euros. Engineering firm METKA gained 2.73 percent to 11.30 euros. Coca-Cola HBC was up 1.55 percent to 16.36 euros and Public Power Corporation rose 1.37 percent to 10.39 euros.

By contrast, betting firm OPAP was 0.39 percent lower at 12 euros.

Turnover thinned to 73.2 million euros.