ECONOMY

Utilities carry index above 5,200 points

Greek stocks rose for a fourth day, with investment interest centering on raw materials and utilities. The Piraeus and Thessaloniki port authorities, OLP and OLTH, as well as the Thessaloniki Water Authority, closed at new historic highs. The Athens Exchange (ATHEX) benchmark index added 0.6 percent, to 5,207.44 points, in Athens as 33 of its 60 constituent stocks gained, 21 fell and six ended unchanged. The FTSE/ASE 20 index of the country’s largest companies rose 0.4 percent to 2,762.60. The mid-cap and small-cap indices gained 0.8 percent and 0.3 percent respectively. Energy and metals group Mytilineos led blue chip gainers with 3.8 percent and Motor Oil followed with 2.15 percent. Construction group Hellenic Technodomiki, Greece’s largest, rose 2 percent and Coca-Cola HBC advanced 1.9 percent. ATEbank was 1.6 percent higher. By contrast, Intralot and Viohalco declined 1.77 percent and 1.21 percent respectively. Marfin Investment Group dropped 0.7 percent. The country’s biggest buyout fund said a future shareholder meeting will discuss canceling the company’s own stock. Hellenic Petroleum rose 1.1 percent. The government of the Former Yugoslav Republic of Macedonia agreed to pay the refiner $40 million in compensation as settlement of a dispute. (Kathimerini, Bloomberg)