ECONOMY

Bourse going from strength to strength on corporate news

The main index of the Greek bourse registered another 16-month high on Thursday, buoyed by news regarding a small increase in local bank deposits and corporate developments concerning Titan and Mytilineos.

The Athens Exchange (ATHEX) general index closed at 952.30 points, adding 1.17 percent to Wednesday’s 941.26 points. The market’s blue chip FTSE/ATHEX-25 grew by 0.98 percent to end at 325.78 points.

Blue chips presented a mixed picture, as Marfin Investment Group outperformed with gains of 7.03 percent, while Alpha Bank suffered losses of 1.96 percent, on a day when banks were split between gainers and losers.

Titan climbed 4.24 percent after raising 200 million euros via a bond issue to become the first Greek firm to successfully tap markets since the country’s debt crisis erupted in 2010.

Mytilineos Group’s Aluminium SA meanwhile agreed to sell 75,000 metric tons of aluminum billets and slabs to Glencore International Plc for $200 million (153 million euros). Mytilineos’s stock added 0.86 percent.

In total 127 stocks recorded gains, 34 posted losses and 26 remained unchanged.

Turnover amounted to 50.5 million euros, up from Wednesday’s 48.1 million.