ECONOMY

Banks and utilities lead Greek stocks rebound

Greek stocks rebounded from Thursday?s 22-year lows on Friday, led by OTE telecom, Public Public Power Corporation (PPC) and big banks.

The Athens Exchange (ATHEX) general index rose 2.54 percent to 550.13 points, from 536.49 on Thursday. The blue chip FTSE/ATHEX index gained 3.10 percent to 204.48 points.

The banks index ended 4.88 percent higher, at 154.83 points. Former bellwether National Bank of Greece climbed 7.69 percent to 1.26 euros. Alpha Bank outperformed among blue chips, adding 10.12 percent to reach 0.76 euros. PPC, which together with OTE fell to all-time lows on Thursday, surged 7.14 percent to 1.65 euros. OTE was 9.46 percent higher, at 1.62 euros. Gaming firm OPAP shed 2.50 percent, approaching all-time lows at 4.92 euros.

Turnover rose considerably to 59.6 million euros. Fifty-seven stocks headed north, 66 fell and 21 remained unchanged.