ECONOMY

NBG drives market, reaches all-time high

National Bank (NBG), the Greek bourse’s largest capitalization, was the market’s main driver yesterday as management announced an upbeat three-year business plan. NBG surged 3.65 percent to an all-time high of -41.46, and accounted for 38.5 percent of total turnover. The Athens Stock Exchange (ASE) general index was up 1.19 percent to 4,762.92 points. The blue chip FTSE/ASE 20 index added 1.33 percent, the FTSE/ASE Mid-40 gained 1.28 percent and the FTSE/ASE Small-Cap 80 ended 1.09 percent higher. Three other banks followed NBG in leading blue chips. Piraeus advanced 2.38 percent, Alpha gained 1.71 percent and Cyprus was up 1.55 percent. ATEbank, Eurobank, Viohalco, Hellenic Technodomiki, Cosmote and OPAP followed vigorously, while Public Power Corporation (PPC) and Motor Oil also edged north. By contrast, Titan cement slumped 3.29 percent after recent hefty gains, OTE was down 1.0 percent, and Coca-Cola HBC, Hellenic Petroleum, Intralot, Folli-Follie and Emporiki also headed south. Thirteen of 17 sectoral indices saw gains, led by raw materials and banks. By contrast, insurance continued leading decliners, sinking 2.39 percent. Turnover totaled -486.182 million, of which -183.49 million was accounted for by NBG.