ECONOMY

Shares rebound after series of losing sessions

Shares gained more than 1 percent yesterday, playing catch-up with firmer European markets after a pause on Thursday, a national holiday. «Today’s session was a positive reaction to Wall Street’s good close, an outbreak after a series of downward sessions,» said Thanos Ipirotis, analyst at Alpha Finance. The general share index closed 1.61 percent higher at 2,332.21 points, with blue chips advancing 1.20 percent and small- and mid-caps outperforming with gains of 2.70 percent and 3.01 percent respectively. Traders said the mood was helped from positive performance across Europe. Bottler Coca-Cola HBC starred among blue chips, closing 4.29 percent up at 20.90 euros. «The rise in CCHBC is due to strong buying from abroad,» a trader said. «This kind of portfolio rejigging is to be expected as the first quarter draws to a close.» OTE also had a good run, closing 3.23 percent up at 11.52 euros. Mid-cap stocks rose after recent sharp losses and ahead of the FTSE/ASE index reconfiguration on March 31, with traders betting on possible changes in the benchmarks’ makeup. Turnover rose slightly to 139.12 million euros, with 27.8 million shares changing hands. Advancers led decliners 290 to 38, with 28 unchanged. (Reuters)