ECONOMY

Positive foreign mood fuels Greek rebound

Greek stocks rebounded strongly after several days yesterday, with a positive mood on other European markets extending buying interest from blue chips, especially banks, to small-caps. The Athens Stock Exchange (ASE) general index was 1.02 percent higher at 3.926.52 points, with all but four sectoral indices heading north. Health outperformed by surging 3.96 percent, utilities advanced 1.62 percent and banks added 1.64 percent. Petroleum & gas led the losers, declining 0.50 percent. The blue chip FTSE/ASE 20 index was 1.18 higher, the FTSE/ASE Mid 40 gained 0.80 percent and the FTSE/ASE Small-Cap 80 advanced 2.37 percent. Banks led blue chip gains: ATEbank was 2.96 percent higher; Emporiki advanced 2.23 percent; National Bank was up 2.20 percent and Alpha Bank gained 1.76 percent. Public Power Corporation, Coca-Cola HBC, OTE, Intracom, Piraeus Bank, Viohalco, Germanos and Cosmote also ended higher. In contrast, Hellenic Technodomiki, Hellenic Petroleum, Duty Free Shops, Motor Oil, OPAP, Titan and Folli-Follie headed south. Turnover surged to 270.19 million euros. Analysts said that barring negative developments abroad, buying interest in blue chips is expected to continue and spread further to mid- and small-caps.