ECONOMY

Index over 3,300 points as refiners stay strong

Stocks gained for the third session in a row yesterday on the Athens Stock Exchange (ASE), with the index closing above 3,300 points after 25 sessions despite the negative mood in other European markets. The ASE general index closed at 3,310.22 points, a gain of 11.40 points or 0.35 percent. The FTSE/ASE-20 index of blue chips gained 0.16 percent to close at 1,833.31 points. Small-caps also gained (0.49 percent), but mid-caps dropped 0.16 percent. The session was dominated by refiners, the result of a UBS report raising its share target prices to 16.90 for Hellenic Petroleum and 23.10 for Motor Oil. Hellenic Petroleum gained 4.65 percent to close at a year-high 12.16 euros and Motor Oil gained 0.78 percent, closing at 18.64 euros. Other blue chips with significant gains were jewelry maker and retailer Folli-Follie (up 2.59 percent to a year-high 26.98 euros), cement company Titan (2.12 percent to 27.88 euros), metals group Viochalco (1.82 percent to 5.60 euros), bottler Coca-Cola HBC (1.61 percent to 24.04 euros) and telecoms company OTE (1.08 percent to 16.88 euros). Of 336 traded stocks, 176 gained, 101 declined and 59 ended unchanged. Turnover reached 262.62 million euros, including 84.10 million in prearranged trades.