ECONOMY

Bank of Cyprus surges ahead on day of gains

Banks and utilities led Greek stocks higher for a second day but with severely trimmed gains at the close. The Athens Exchange (ATHEX) index advanced 0.44 percent, to 4,973.59 points, after rising as much as 1.71 percent during the session. One-hundred-and-thirty-eight stocks gained, 114 fell and 57 ended unchanged. The FTSE/ATHEX 20 index of the country’s largest companies increased 0.70 percent to 2,645.72. The mid- and small-cap indices ended 0.50 percent up and unchanged, respectively. Bank of Cyprus outperformed among blue chips, surging 5.32 percent, while Public Power Corporation (PPC) continued its advance with gains of 4.84 percent. OTE telecom ended 1.98 percent higher and National Bank added 1.87 percent. Folli-Follie added 2.6 percent. The jewelry and handbag retailer said nine-month net income rose to -60.7 million from -52 million in the year-earlier period. Info-Quest, Greece’s biggest computer-maker and services company, dropped 3.3 percent after reporting a net loss. Marfin Investment Group added 3.1 percent. Nine-month profit at the investment fund, whose biggest shareholder is the government of Dubai, rose almost fivefold to -395.2 million. (Kathimerini, Bloomberg)