ECONOMY

Stocks rise on news of Microsoft buying Yahoo

The local bourse enjoyed a significant rebound yesterday, following the rise on international markets thanks to the proposal from Microsoft for the acquisition of Yahoo for $44.6 billion. The Athens Exchange (ATHEX) general index closed at 4,436.36 points yesterday from 4,362.79 on Thursday, a rise of 1.69 percent. The blue chip FTSE/ATHEX 20 index grew by 1.94 percent, reaching 2,340.30 points. The mid-cap FTSE/ATHEX 40 index expanded by 1.36 percent, while the small-cap FTSE/ATHEX 80 index posted a more moderate increase of 0.39 percent. The FTSE/ATHEX International was up 1.87 percent to 6,218.43 points. The biggest gains among blue chips were by Hellenic Technodomiki TEV (up 5.65 percent), National Bank (4.48 percent), Bank of Cyprus (2.91 percent), Intralot (2.87 percent) and Viohalco (2.85 percent) All but two sectoral indices headed northward, led by construction (higher 2.82 percent) and raw materials (2.65 percent). Only commerce (down 1.25 percent) and personal and household goods (1.03 percent) recorded a decline. Turnover reached -376.33 million, of which -29.05 million concerned block trades. The Cypriot General Market Index rose 2.43 percent to 3,909.81 points.