ECONOMY

Sell-off plan boosts ATEbank, TT in weak session

The Athens bourse lost ground on Friday on soft blue chips, despite strong gains in government controlled companies seen featuring in Greece?s ambitious privatization plans.

The Athens bourse?s benchmark general index dipped 0.62 percent to 1,621.90 points, easing 2.39 percent for the week. It is still ahead 14.71 percent since the start of the year.

The blue chip FTSE/ATHEX 20 index eased 0.59 percent to end at 759.37 points.

News that Greece aims to raise 15 billion euros on assets sales in the 2011-2012 period sent buyers scurrying for companies seen as being at the top of the sales list.

ATEbank soared 11.84 percent to 0.85 euros, while Hellenic Postbank (TT) leapt 9.27 percent to 3.42 euros. Athens Water and Sewage Company (EYDAP) advanced 5.07 percent to 4.97 euros.

Banks retreated 0.08 percent. Alpha Bank gave up 2.90 percent to 4.36 euros and OTE telecom slipped 3.57 percent at 7.56 euros.

Turnover reached 124.8 million euros versus 179 million euros.