Stocks bounce after Fed keeps rate stable
Stocks gained significantly yesterday on the Athens Stock Exchange (ASE), as on other European bourses, as a response to the US Federal Reserveís Open Markets Committee decision not to raise interest rates. The ASE composite share index closed at 4,652.63 points, a gain of 74.40 points or 1.63 percent. The FTSE/Athex 20 index of blue chips gained 1.54 percent to close at 2,503.82 points, while mid-caps and small-caps gained 1.60 percent and 1.28 percent respectively. The FTSE/Athex International gained 1.55 percent, closing at 6,629.61 points. All 17 sectoral indices gained. The top gainers were insurance (higher 3.92 percent), raw materials (3.31 percent), industrial goods and services (2.97 percent), chemicals (2.58 percent) and construction and materials (2.55 percent). Among blue chips, the top gainers were metals group Viohalco (up 4.70 percent to 11.14), mobile telecommunications company Cosmote (3.51 percent to 23.00), Piraeus Bank (3.40 percent to 26.16), cement maker Titan (3.30 percent to 40.66), Alpha Bank (2.66 percent to 23.14) and betting company OPAP (2.49 percent to 29.60). Only games of chance software and hardware provider Intralot declined (less 1.20 percent to 23.14). Turnover reached 559.61 million, including 129.67 million in prearranged trades.
