ECONOMY

MIG, OTE and National lead blue chip rebound

The benchmark Athens Exchange (ATHEX) index rose 60.25 points, or 1.5 percent, to 3,986.44, the first gain in almost two weeks. The FTSE/ATHEX 20 index of the country’s biggest companies advanced 2.1 percent to 2,055.23 points. The following stocks were among the most active in trading. Forthnet climbed 1.6 percent, to 7.70 euros, the steepest increase in more than a week. Greece’s second-biggest Internet company made a binding offer to acquire NetMed NV, a Greek and Cypriot pay-television operator. Marfin Investment Group (MIG) rallied 10 percent, to 4.26 euros, the steepest gain since June 20, 2007. Deutsche Telekom may buy part or all of MIG’s near-20 percent stake in OTE telecom, Axiaplus website reported. OTE climbed 5.1 percent, to 19.24 euros, the biggest gain since June 28. National Bank added 1.5 percent, to 36.16 euros, gaining for a second day. The country’s biggest bank by assets confirmed it is on a short list of five contenders to buy Banque du Caire SAE, a state-controlled Egyptian bank. Piraeus Port Authority, Greece’s largest port, lost 3.9 percent, to 19 euros, the third straight decline. Imerisia newspaper reported today that the company may extend by 40 days the deadline for bids to take over its container operations. Turnover topped -486 million. (Bloomberg)