Telecoms push index up after series of losses

Stocks gained yesterday on the Athens Stock Exchange (ASE), as the bourse responded to the recovery of other European markets in a session marked for interest in telecommunications stocks as well as several medium- and small-capitalization firms. The ASE general index closed at 3,267.05 points, a gain of 19.59 points or 0.60 percent. The FTSE/ASE-20 index of blue chips gained 0.52 percent to close at 1,808.60 points, while mid- and small-caps gained 0.61 percent and 0.43 percent respectively. Several blue chips recorded gains, including telecommunications equipment maker Intracom (up 5.73 percent to 5.54 euros), telecoms firm OTE (3.16 percent to 17 euros), refiner Motor Oil (2.07 percent to 17.76 euros), mobile telecommunications service provider CosmOTE (2.06 percent to 16.86 euros), construction group Hellenic Technodomiki (1.91 percent to 4.26 euros) and Emporiki Bank (1.31 percent to 23.24 euros). In contrast, state-controlled betting company OPAP slid 1 percent to close at 23.80 euros. Of 335 traded stocks, 184 gained, 100 declined and 50 ended unchanged. Turnover reached 156.90 million euros, including 24 million in prearranged trades.