ECONOMY

OTE leads stocks to yet more gains

Stocks added 1.41 percent yesterday on the back of gains in OTE Telecom. OTE gained 4.0 percent to 11.44 euros as Greek telecom stocks outperformed European peers, adding 2.29 percent. «There were buy orders in OTE from abroad. The fact that the Romtelecom deal is closed must be influencing the share positively,» said Takis Zamanis, analyst at Beta Securities. «OTE’s gains affected in a positive way sentiment in other large-cap stocks,» he added. The Athens general index ended up 1.41 percent at 1,720.99 points. The market ended the week with gains of 1.8 percent. «The market was oversold. OTE and the research notes in banks gave investors a reason to go bargain hunting,» said a broker. Blue chips gained 1.86 percent to 852.39 points. Mid-caps rose 0.71 percent and small-caps, 0.69 percent. Turnover was 98.50 million euros, with 22.5 million shares changing hands. Winners beat losers 202 to 87 with 71 shares unchanged on 360 traded. (Reuters)