ECONOMY

Rebound brings index back to 4,700 points

Greek stocks remained firmly northbound yesterday, in line with foreign bourses, with a hefty boost from construction and raw materials blue chips. Mid-caps and small-caps also made impressive gains. Analysts, however, appeared hesitant to conclude that the rebound had more than a technical character but noted that the market is partly sustained by the expectation of more business deals. The Athens Stock Exchange (ASE) general index ended 1.11 percent higher at 4,699.00 points. The blue chip FTSE/ASE 20 index added 1.05 percent, the FTSE/ASE Mid-40 gained 1.35 percent and the FTSE/ASE Small-Cap 80 was up 1.94 percent. Construction company Hellenic Technodomiki outperformed among blue chips, climbing 4.56 percent, followed by Titan cement, which advanced 3.36 percent. OTE added 2.64 percent, Coca-Cola HBC was up 2.30 percent and ATEbank gained 1.98 percent. Alpha Bank, Emporiki, Postal Savings Bank, Viohalco and Folli-Follie also showed vigor. Eurobank and Intralot were the only blue chips that edged south, 0.47 percent and 0.40 percent respectively. Turnover totaled -434.79 million, of which -131.5 million was accounted for by National Bank, OTE and Bank of Cyprus. All 17 sectoral indices ended in positive territory.