ECONOMY

PPC growth helps to end local bourse’s three-week losing streak

The Greek bourse’s benchmark index finally saw an end to its three-week losing streak on Friday as by the end of the session it had racked up a weekly rise of 3.13 percent.

The Athens Exchange (ATHEX) general index closed at 1,168.90 points, adding 2.37 percent to Thursday’s 1,141.83 points. The large-cap FTSE/ATHEX 25 expanded 2.40 percent to end at 389.24 points.

Citi’s revision of the Public Power Corporation target price from 9.50 euros to 11 euros sent the PPC stock to 10.89 euros, up 5.42 percent. It was followed by Titan Cement (up 4.65 percent), Hellenic Petroleum (4.40 percent) and Piraeus Bank (4,38 percent). Frigoglass lost 1.41 percent.

In total 88 stocks headed north, 44 posted losses and 19 closed unchanged.

Turnover amounted to 111.8 million euros, down from Thursday’s 139.8 million.