ECONOMY

Blue chips ride wave of fresh optimism over debt crisis

Buoyant blue chips led Greek stocks higher in brisk trade Tuesday, amid increasing global optimism that the European debt crisis is being contained.

The Athens Exchange (ATHEX) benchmark index surged 2.65 percent higher, closing at 642.84 points, with the blue chip FTSE/ATHEX 20 index adding 3.52 percent to 234.81 points. Mid-caps rose 3.31 percent.

OTE telecom outperformed, leaping 11.02 percent to 2.62 euros, while gaming monopoly OPAP, with nearly 6 million euros in volume, added 2.47 percent to 5.40 euros. Banks also had a field day, with National expanding 6.11 percent to 1.39 euros, Alpha gaining 6.77 percent to 1.42 euros and Eurobank rising 5.26 percent to 0.72 euros. Industrial group Mytilineos jumped 9 percent to 2.30 euros.

Turnover shot up to 74.96 million euros from 15.4 million on Monday.