Outlook improves; index above 4,900 pts again
Greek stocks yesterday returned to price levels of two weeks ago, helped by positive sentiment on foreign markets after the announcement of a much lower-than-expected rise in US producer prices in August. The benchmark Athens Exchange (ATHEX) general index closed 0.61 percent up at 4,922.98 points. The blue chip FTSE/ATHEX 20 index gained 0.74 percent, reaching 2,622.98 points, while the mid-cap and small-cap indices advanced 0.52 percent and 0.41 percent, respectively. The FTSE/ATHEX International was up 0.72 percent. Hellenic Technodomiki led blue chips, adding 3.96 percent to close at -9.44 after HSBC upgraded it to «overweight» from «neutral,» despite cutting the price target from -11.50 to -11. OPAP, which Morgan Stanley described in a report as «a giant with tied hands» due to its Greek monopoly and setting a target price of -30, climbed 2.75 percent to -26.18. National Bank advanced 2.26 percent, Postal Savings Bank added 2.07 percent and Piraeus Bank was 1.66 percent higher. Coca-Cola HBC climbed to a new historic high of -38, while banks Alpha, ATE, Emporiki and Marfin Popular along with Hellenic Petroleum, Motor Oil and Viohalco also headed north. By contrast, Cosmote tumbled 2.41 percent after Monday’s impressive gains, and Eurobank was 2 percent down. Turnover reached -414.6 million.
