Reports on banks help keep up the momentum
Greek stocks stayed northbound in thin trade for a third straight session yesterday, in line with other European markets. A Merrill Lynch report helped put heavyweight banks in the driving seat, saying that their recent losses now present buying opportunities in one of the best growth stories in Europe this year and next. The Athens Stock Exchange (ASE) general index gained 0.76 percent to close at 4,553.05 points. The blue chip FTSE/ASE 20 index was up 0.82 percent, the FTSE/ASE Mid-40 added 0.79 percent and the FTSE/ASE Small-Cap 80 ended 0.72 percent higher. Refiner Motor Oil led blue chip winners with gains of 2.88 percent, Titan cement advanced 2.04 percent, Cosmote added 1.84 percent, Hellenic Technodomiki was up 1.44 percent, National Bank, for which Merrill Lynch gave a target price of 49 against yesterdayís closing of 40.40 was 1.41 percent higher, while Eurobank gained 1.10 percent. Bank of Cyprus, Intralot, Apha Bank, Piraeus Bank and Folli-Follie were also higher. By contrast, Public Power Corporation, Coca-Cola HBC, Hellenic Petroleum, OPAP and Emporiki were all less than 1 percent lower. All but five of the sectoral indices headed north, led by financial services, which rose 1.89 percent. Banks were up 1.01 percent. Turnover totaled 296.14 million.
