ASE follows European bourses, rises 1.55 pct

Stocks gained significantly yesterday on the Athens Stock Exchange (ASE) for the third session in a row – a sign, according to some analysts, that the market correction is over. The recovery was helped by the buoyant mood in other European markets. The ASE composite share price index closed at 4,076.55 points, a gain of 60.84 points or 1.55 percent. The FTSE/Athex 20 index of blue chips gained 1.48 percent to close at 2,256.72 points, while mid- and small-caps gained 1.46 percent and 0.88 percent respectively. The FTSE/Athex International index gained 1.35 percent, closing at 5,698.12 points. The biggest gainers among blue chips were refiner Hellenic Petroleum (up 4.78 percent to 11.40 euros), mobile telecommunications service provider Cosmote (3.26 percent to 19 euros), cement maker Titan (2.60 percent to 39.50 euros), ATEbank (2.52 percent to 5.70 euros), National Bank (2.18 percent to 40.22 euros), betting company OPAP (2.05 percent to 32.80 euros), Alpha Bank (1.40 percent to 30.42 euros) and bottler Coca-Cola HBC (1.22 percent to 24.90 euros). By contrast, technology holding company Intracom fell 2.87 percent to 5.42 euros. Out of 313 traded shares, 155 gained, 108 declined and 50 ended unchanged. Turnover reached 258.80 million euros, including 26.93 million in prearranged trades.