ECONOMY

PPC, OTE and CCHBC lead stock rebound

Non-banking blue chips led the rebound on the Greek bourse on Wednesday after three consecutive sessions of losses for November’s first day of gains, although it remains to be seen if it was just a one-off or a return to the growth surge seen in previous months.

The Athens Exchange (ATHEX) general index closed at 1,156.57 points, rising 1.60 percent from Tuesday’s 1,138.35 points. The large-cap FTSE/ATHEX 25 expanded 1.78 percent to end at 384.42 points.

Amid trader concerns that the market is being manipulated by major portfolios, Public Power Corporation, Coca-Cola HBC and OTE telecom led the rise among blue chips, after having all declined in the three previous sessions: PPC climbed 2.59 percent, CCHBC added 2.52 percent and OTE rose 3.01 percent, all on notable turnover. There was higher growth, but at a lower turnover, for Intralot (up 5.26 percent) and Hellenic Exchanges (4.38 percent). Viohalco dropped 3.36 percent and Piraeus Bank fell 1.39 percent.

In total 80 stocks secured gains, 50 sustained losses and 15 remained unchanged.

Turnover amounted to 77.2 million euros, down from Tuesday’s 83.7 million.