ECONOMY

Telecoms dominate, index nears 3,400 pts

Stocks gained yesterday on the Athens Stock Exchange (ASE) for the fifth session in a row, buoyed by a positive mood in global markets. The ASE general index closed at 3,390.01 points, a gain of 45.27 points or 1.35 percent. The FTSE/ASE-20 index of blue chips gained 1.34 percent to close at 1,882.91 points, while mid-caps and small-caps gained 1.07 percent and 1.88 percent respectively. Telecoms stocks outperformed, with mobile telecommunications leading provider CosmOTE jumping 3.21 percent to close at 18.02 euros and parent company OTE gaining 2.67 percent to 17.72 euros. Other significant gains among blue chips were recorded by betting company OPAP (up 2.20 percent to 24.16 euros), Emporiki Bank (2.01 percent to 24.36 euros), Piraeus Bank (1.88 percent to 17.36 euros) and cement producer Titan (1.73 percent to 29.46 euros). Three blue chips suffered losses: casino and hotel operator Hyatt (down 0.58 percent to 10.26 euros), Duty Free Shops (0.54 percent to 14.74 euros) and refiner Motor Oil (0.11 percent to 17.84 euros). Of 334 traded stocks, 247 gained, 47 declined and 40 ended unchanged. Turnover increased significantly, reaching 281.77 million euros, including 28.1 million in prearranged trades.