ECONOMY

OTE leads index 1.26 percent higher

Stocks rose yesterday, with index heavyweight OTE Telecom leading the charge, gaining nearly 5 percent after Smith Barney upgraded its recommendation on the shares to «in-line.» The day’s most active stock, with 2.6 million shares changing hands, OTE ended with gains of 4.76 percent at 9.24 euros. The Athens benchmark general index rose 1.26 percent to 1,624.05 points. «OTE has lagged behind the recent rally on the general index, so the rise today was partly a technical reaction,» said analyst Manos Hadjidakis at Magna Trust. The blue-chip FTSE/ASE-20 index gained 1.26 percent. Mid-caps gained 0.89 percent, while small-caps on the FTSE/ASE-80 gained 3.75 percent Turnover jumped to 126.81 million euros from Friday’s 87.54 million euros, with 47.1 million shares changing hands. Winners outnumbered losers 297 to 38, with 29 shares unchanged on 364 traded. (Reuters)