ECONOMY

Telecoms, banks help ASE’s fourth straight rise

Stocks gained yesterday on the Athens Stock Exchange (ASE) for the fourth successive session, despite the negative mood on other European markets. The ASE general index closed at 3,389.69 points, a gain of 10.11 points or 0.30 percent. The FTSE/ASE-20 index of blue chips gained 0.47 percent to close at 1,886.23 points, while mid-caps and small-caps gained 0.03 percent and 0.89 percent respectively. Blue chips which recorded significant gains were mobile telecoms operator CosmOTE (up 2.13 percent to 17.24 euros), National Bank (1.13 percent to 33.34 euros), cement-maker Titan (1.13 percent to 28.68 euros), Alpha Bank (1.08 percent to 24.28 euros) and OTE (0.93 percent to 17.38 euros). In the case of National, there was a boost by a Deutsche Bank report confirming its share target price of 40 euros. In contrast, losses were sustained by casino and hotel operator Hyatt (down 3.10 percent to 10 euros), metals group Viohalco (2.17 percent to 5.42 euros), refiner Hellenic Petroleum (2.03 percent to 12.52 euros) and electricity company PPC (1.40 percent to 18.34 euros). Of 328 traded stocks, 146 gained, 126 declined and 56 ended unchanged. Turnover reached 275.64 million euros, including 60.08 million in prearranged trades.