ECONOMY

OTE outperforms as banks fail to maintain interest

Greek stocks posted modest gains following a session of thin trade on Friday, mainly on a strong performance by OTE telecom a day after its announcement of encouraging second-quarter results.

The Athens Exchange (ATHEX) benchmark index added 0.97 percent, closing at 618.23 points, with the blue chip FTSE/ATHEX 20 index adding 0.79 percent. OTE outperformed, surging 8.17 percent to close at 2.25 euros.

Among banks, only Alpha, considered the strongest contestant in the race to acquire Emporiki, attracted considerable buying interest, advancing 1.59 percent to close at 1.28 euros. Coca-Cola Hellenic Bottling Co followed suit, adding 1.51 percent to 14.11 euros. National Bank shed 0.77 percent, closing at 1.29 euros.

Turnover totaled 11.67 million euros, with about a quarter of that amount accounted for by OTE.