Telecoms and National help ASE sustain rise

Stocks gained ground yesterday on the Athens Stock Exchange (ASE) for the fifth session in a row, as investors focused this time on telecoms and National Bank of Greece. The ASE general index closed at 3,061.94 points, a gain of 36.48 points or 1.21 percent. The FTSE/ASE-20 index of blue chips gained 1.31 percent to close at 1,698.54 points, while mid- and small-caps gained 1.31 percent and 0.18 percent respectively. OTE, CosmOTE and National Bank all posted 52-week highs. OTE gained 3.96 percent to close at 14.70 euros, CosmOTE gained 2.35 percent to close at 15.70 euros and National rose 2.15 percent to 27.56 euros. Swiss bank UBS upped National’s share price target to 32 euros from 27 previously. Intralot (up 3.99 percent to 23.44 euros) and Heracles (2.68 percent to 10.74 euros) also posted 52-week highs. Significant gainers among blue chips included Intracom (up 2.65 percent to 4.64 euros), whose placement of a 2.3 percent stake with institutional investors was completed yesterday, Coca-Cola HBC (up 1.85 percent to 19.84 euros) and OPAP (1.51 percent to 21.54 euros). Out of 352 traded shares, 139 gained, 141 declined and 72 ended unchanged. Turnover reached 261.61 million euros, including 37.73 million in prearranged trades.

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