ECONOMY

Greek stocks keep on the bright side of news

Greek stocks surprisingly bucked negative trends in other European markets yesterday, largely bolstered by blue chip auctions toward the end of the session, continuing expectations of business deals and good first-half results. The Athens Stock Exchange (ASE) benchmark index was 0.84 percent higher at 3,877.09 points. Technically, the picture improved further as the index overcame the 3,870-point barrier and is now looking up to 3,910 points as the next resistance level. All capitalizations gained, especially blue chips and small-caps. All sectoral indices but two also headed north, led by industrial products and services and raw materials. Banks added 0.62 percent. Insurance and commerce ended lower. Blue chip gainers were led by Viohalco, which climbed 5.69 percent to 7.80 euros. Cosmote advanced 2.19 percent, Motor Oil added 2.08 percent and Alpha Bank was 2.00 percent higher. Eurobank, Coca-Cola HBC, OPAP, Folli Follie, Piraeus Bank, Public Power Corporation, Hyatt, Intracom, Hellenic Technodomiki, OTE and Titan also gained. ATEbank and Hellenic Petroleum were the only two blue chips to end lower. Turnover came to a total of 236.3 million euros, of which 98.3 million was accounted for Emporiki Bank, mostly block trades bought by Credit Agricole.