PPC outperforms as blue chips rebound in force

Greeks stocks climbed, led by the Public Power Corporation (PPC) after NBG/P&K Securities raised its recommendation on the shares to «overweight.» Several other blue chips also gained strongly. The Athens Exchange (ATHEX) benchmark Index climbed 2.11 percent, to 5,090.97 points. The FTSE/ATHEX 20 index of the country’s largest companies rose 1.98 percent to 2,704.39. PPC gained 11.8 percent, to -37.10. «Speculation has now given way to certainty that things are changing for the better at PPC,» NBG/P&K Securities said in a note to investors. The share price forecast was increased 44 percent to -52. Coca-Cola HBC added 3.1 percent, to -29.50. UBS gave shares of the world’s second-biggest bottler of Coke drinks a «buy» recommendation in new coverage. Intralot surged 4.69 percent, Postal Savings Bank climbed 4.03 percent, OPAP advanced 3.32 percent. Hellenic Petroleum was the only blue chip to head south, 0.19 percent. Sarantis advanced 5.6 percent, to -13.64. Pantelakis Securities raised its price estimate on the maker and distributor of cosmetics and household goods to -16 from -12.9. Turnover totaled -503.5 million. (Bloomberg, Kathimerini)