ECONOMY

Stocks rise for third straight session

Greek stocks rose for a third straight session on Friday as buyers turned to banks, pushing National nearly 5 percent higher.

The Athens bourse?s benchmark general index gained 1.35 percent to 1,591.23 points, adding 3.56 percent for the week.

In a report released on Friday, Emporiki Bank said that it sees buying momentum pushing the general index to the 1,645-point resistance level on the condition that there are no corrections in the next few sessions.

The blue chip FTSE/ATHEX 20 index gained 1.34 percent to 738.71 points.

National Bank, the country?s largest lender, jumped 4.81 percent to 6.91 euros, leading the bank index 2.44 percent higher.

Bank of Cyprus moved ahead 2.94 percent to 3.15 euros and Alpha Bank ended at 4.20 euros, up 1.69 percent.

Shares in jewelry retailer Folli Follie (FF) eased 0.27 percent to 14.80 euros. Piraeus Securities upped its price target on the stock to 14.40 euros from 12.30 euros, citing the favorable impact from new tax rates and the opening of FF?s fuel operations on Greek borders. The brokerage kept its neutral rating on FF.

Turnover reached 114 million euros, up from 110 million in the previous session.