Coca-Cola HBC and National lead rebound
Greek stocks gained yesterday, recouping Monday’s losses. National Bank, the country’s biggest, and the Coca-Cola Hellenic Bottling Company (CCHBC) led the advance. The Athens Exchange (ATHEX) benchmark index added 1.7 percent, to 4,518.16 points as 49 of its constituent shares increased, nine fell and two were unchanged. The FTSE/ATHEX 20 index of the country’s largest companies rose 1.3 percent to 2,381.49. But blue chips lagged mid- and small-caps, whose indices gained 2.6 percent and 2 percent respectively. National gained 1.4 percent, to -41.82. CCHBC added 5.3 percent, to -29.90. Folli-Follie gained 1.5 percent to -20.80 after the jewelry and handbag retailer acquired full ownership of its Japanese unit to increase earnings from one of the company’s biggest markets. Folli-Follie will pay about -12.7 million for the 60 percent stake it doesn’t already own in Folli-Follie Japan, according to an Athens bourse filing. OTE telecom added 1.9 percent, to -22. The phone company’s offer to buy the shares it doesn’t already own in Cosmote mobile operator ended yesterday. Plaisio Computers increased 2.5 percent. The computer and office-equipment retailer said it will pay a dividend of 30 cents after net income rose 56 percent to -9.9 million. (Bloomberg, Kathimerini)
