OTE leads rebound after five days of losses

Greek stocks rebounded after five straight days of losses yesterday, in line with other markets abroad, and led by heavyweight OTE telecom which surged 6.54 percent to 22.80 euros on the success of its 10.7 percent placement in London. The Athens Exchange (ATHEX) general index was up 0.87 percent at 4,797.27 points. The FTSE/ATHEX 20 blue chip index gained 0.85 percent, with hefty support from telecoms but some from banks and a few others. The FTSE/ATHEX Mid-40 ended 0.14 percent lower and the FTSE/ATHEX 80 small-cap index advanced 1.24 percent. The FTSE/ATHEX international index added 0.69 percent. Apart from OTE, Coca-Cola HBC also closed the day high with help from end-of-session auctions. Cosmote, OTE’s subsidiary, was up 2.76 percent and Postal Savings Bank advanced 2.05 percent. Hellenic Technodomiki, Intralot, National Bank, ATEbank, Marfin Popular Bank and Motor Oil also headed north. By contrast, Viohalco slumped 1.99 percent and the Public Power Corporation was down 1.15 percent. Alpha Bank lost 0.34 percent, while Bank of Cyprus and Emporiki were both down 0.47 percent. Hellenic Petroleum, Piraeus Bank and Eurobank remained unchanged. Turnover totaled -393.01 million, including -50.57 million in block trades.

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