ECONOMY

Titan, OPAP, Motor Oil lead rise to 5-year high

Stocks gained yesterday on the Athens Stock Exchange (ASE), closing at five-year highs on the back of big gains by OPAP, Titan and Motor Oil. The ASE general index closed at 3,534.92 points, a gain of 19.30 points or 0.55 percent. The FTSE/ASE-20 index of blue chips gained 0.40 percent to close at 1,965.66 points. Mid-caps and small-caps gained 0.36 percent and 0.16 percent respectively. Once again, the biggest gains among blue chips were recorded by cement producer Titan (up 4.71 percent to a year-high 33.82 euros). OPAP gained 4.56 percent to close at a year-high of 27.48 euros thanks to a Morgan Stanley report raising the target price to 32 euros from 27 previously. Other blue chips making significant gains included refiner Motor Oil (up 3.94 percent to 20.04 euros), electronics retailer Germanos (3.04 percent to 14.22 euros), ATEBank (1.28 percent to 4.76 euros), refiner Hellenic Petroleum (1.18 percent to 12 euros) and bottler Coca-Cola HBC (1.02 percent to 23.68 euros). Losses were sustained by telecoms firms OTE and Cosmote and some banks (Alpha, Eurobank and National). Of 325 traded stocks, 135 gained, 125 declined and 65 ended unchanged. Turnover reached 228.98 million euros, including 31.29 million in prearranged trades.