ECONOMY

New year-high closing; EYDAP soars 10.29 pct

Stocks gained once again yesterday on the Athens Stock Exchange (ASE), despite the negative mood in other European markets, to close at yet another new year-high. The ASE general index closed at 3,348.09 points, a gain of 14.65 points or 0.44 percent. This is a level last reached about four-and-a-half years ago. The intrasession high was 3,356.71 points. The FTSE/ASE-20 index of blue chips gained 0.26 percent to close at 1,850.10 points, while mid-caps gained 0.85 percent and small-caps declined 0.14 percent. The Athens Water and Sewage Company (EYDAP) surged 10.29 percent to close at 7.72 euros on the basis of rumors that it will place shares with institutional investors. Other stocks with significant gains included the ASE’s parent company Hellenic Exchanges (up 5.41 percent to 7.40 euros), mobile telecommunications firm CosmOTE (2.98 percent to 16.60 euros), refiner Motor Oil (2.81 percent to 19.78 euros), ATEBank (2.75 percent to 5.24 euros), Emporiki Bank (2.32 percent to 23.86 euros), betting company OPAP (1.57 percent to 25.94 euros) and refiner Hellenic Petroleum (1.09 percent to 12.96 euros). Of 334 traded stocks, 124 gained, 148 declined and 62 ended unchanged. Turnover reached 361.30 million euros, including 89.55 million in prearranged trades.