ECONOMY

Non-banking blue chips see index rebound

The strong rebound of most blue chips from five days of decline last week secured gains for the benchmark index of the local bourse on Monday, with declining stocks outnumbering those heading north by one.

The Athens Exchange general index closed at 995.30 points, expanding by 1.84 percent from Friday’s 977.27 points, as it appears that it is close to overcoming the 1,000-point barrier soon. The large-cap FTSE/ATHEX-25 index grew by 1.90 percent, ending at 334.65 points.

Despite a general trend of decline in major European bourses, most Greek blue chips showed gains, with the exception of banks.

The decision to change the taxation on OPAP punter earnings bolstered the gaming company’s stock by 4.87 percent, while the upgrading of OTE telecom’s credit rating by Standard & Poor’s from B- to B+ boosted its price by 2.50 percent. They were outperformed by Mytilineos (up 8.18 percent) and Public Power Corporation (6.42 percent) as energy stocks continued their northward course.

Bank of Cyprus gave up 2.09 percent and National Bank dropped by 1.77 percent.

In total 82 stocks went up, 83 posted losses and 19 stayed put.

Turnover amounted to 57.3 million euros, down from last Friday’s 65.2 million.