Market racing toward the 4,000-point mark
Stocks gained significantly yesterday on the Athens Stock Exchange (ASE), making this the ninth of the 10 sessions during the new year that ended in positive territory. Analysts said that high liquidity and positive sentiment are pushing the market to levels not seen since 2000. Expectations of big deals are feeding sentiment but the market’s rise increases investment risk. The ASE composite share price index closed at 3,941.12 points, a gain of 51.79 points or 1.33 percent, bringing the year’s gains to 7.57 percent, so far. The FTSE/Athex 20 index of blue chips gained 1.43 percent to close at 2,166.57 points, while mid- and small-caps gained 1.90 percent and 0.90 percent respectively. The new FTSE/Athex International index gained 1.54 percent to close at 5,387.51 points. Among blue chips, only refiner Hellenic Petroleum (1.44 percent to 12.72 euros) and casino and hotel operator Hyatt (0.72 percent to 11.10 euros) ended with losses. The top gainers were Alpha Bank (up 3.22 percent to 28.24 euros), betting company OPAP (3.15 percent to 32.06 euros), electronics retailer Germanos (3.04 percent to 16.26 euros) and metals group Viohalco (2.81 percent to 6.10 euros). Out of 327 traded shares, 205 gained, 81 declined and 41 ended unchanged. Turnover reached 346.70 million euros, including 18.05 million in prearranged trades.
