ECONOMY

Index up, Citigroup sells 2.4 percent of PPC stock

The Athens Stock Exchange (ASE) rebounded yesterday, in line with positive sentiment on most foreign bourses, and with selective interest in blue chips and mid-caps. The general index closed 0.45 percent higher at 2,867.82 points after remaining in negative territory for most of the session. The blue chip FTSE/ASE-20 index gained 0.54 percent to close at 1,595.32 points, mid-caps were 0.29 percent higher, and small-caps fell just 0.06 percent. Banks Piraeus and Eurobank outperformed among blue chips with respective gains of 4.02 and 2.50 percent. CosmOTE and Intracom advanced 1.59 and 2.08 percent respectively. Twelve of the 18 sectoral indices registered gains, led by information technology (up 2.24 percent) and construction (1.13 percent). The biggest loser was insurance (down 1.43 percent). Banks gained 0.86 percent. Advancers outnumbered decliners127 to 119, while 83 share prices remained unchanged on 329 traded. Turnover shot up to 256.36 million euros, of which 135.08 million was accounted for by PPC, including Citigroup’s sale on behalf of an unnamed client of two share blocks worth 111.1 million euros, representing 2.4 percent of PPC’s share capital. Most traders believed an institutional investor was behind the deal.