ECONOMY

Construction, textiles lead sixth rise in a row

Stocks posted gains on the Athens Stock Exchange (ASE) for the sixth session in a row yesterday. The session was marked again by interest in small-capitalization stocks, especially construction and textiles, and a decline in turnover. The ASE general index closed at 2,964.58 points, a gain of 20.25 points or 0.69 percent. The FTSE/ASE-20 index of blue chips gained 0.54 percent to close at 1,653.18 points, while mid-caps and small-caps gained 0.91 percent and 3.12 percent respectively. Electricity utility PPC gained 0.35 to achieve yet another year-high of 22.62 euros, on the back of Tuesday’s raising of its target price by investment bank Credit Suisse First Boston to 27 euros from 25 previously. Other firms that reached similar highs were metals group Viohalco, which gained 3.72 percent to close at 7.24 euros, hotel resort and casino operator Hyatt (2.21 percent to 10.16 euros) and Rokas. Significant blue chip gainers included Duty Free Shops (up 3.13 percent to 14.50 euros), Alpha Bank (1.20 percent to 26.98 euros), Germanos (1.09 percent to 24.20 euros) and OTE (1.02 percent to 13.88 euros). Of 356 traded stocks, 272 gained, 46 declined and 38 ended unchanged. Turnover dropped to 186.14 million euros, including 7.69 million in prearranged trades.