Hopes of big business deals buoy sentiment
Thirsting for news of business deals, particularly in utilities with large government stakes, investors helped the Greek bourse buck trends elsewhere in Europe yesterday. The benchmark Athens Exchange (ATHEX) general index closed 0.15 percent higher at 5,032.19. The blue chip FTSE/ATHEX 20 index slipped 0.16 percent lower to 2,661.53 points, while the mid-cap and small-cap indices lost 0.16 percent and gained 0.24 percent respectively, despite the fact that interest definitely shifted to the bigger capitalizations compared to Monday. Coca-Cola HBC outperformed among blue chips, resuming recent surges with a 4.11 percent gain to an historic high of -38.00, Public Power Corporation continued climbing, adding 1.56 percent to a year-high of -26.00, Cosmote advanced 1.52 percent, and Viohalco added 1.07 percent. By contrast, Emporiki slumped 2.01 percent, Piraeus Bank declined 1.89 percent and Bank of Cyprus lost 1.77 percent. Insurer Ethniki rallied 13.64 percent after parent National Bank of Greece said it would tender for all remaining shares it does not own in the company with a cash offer of -5.50 per share, a premium of 18 percent over the share’s closing price on September 21. Turnover rose to -670.35 million, of which -287.86 million was in block trades.
