OTE, Mytilineos lead as index nudges higher

The Athens Exchange (ATHEX) benchmark index gained for a second day yesterday, adding 5.55 points, or 0.1 percent, to 4,266.84. The FTSE/ATHEX 20 index of the country’s biggest companies advanced 0.2 percent to 2,266.03 points, with interest focused on OTE telecom, which gained 2.5 percent to 20.46 euros, its highest close in more than two months. The Greek government approved the terms of an agreement to sell part of its stake and cede management control of OTE to Deutsche Telekom, a senior Finance Ministry official said. Eurobank Properties gained for a second day, adding 10 cents, or 1.2 percent, to 8.32 euros. Greece’s biggest real estate investment trust has signed an initial agreement to buy Tavros Protypi Development for 50.4 million euros. Piraeus Port Authority fell 1.9 percent to 23.48 euros, after gaining 3.1 percent yesterday. China Ocean Shipping Group Co, or Cosco, and Hutchison Port Holdings will probably be the two sole bidders for container operations at Greece’s biggest port. Industrial group Mytilineos accelerated gains, surging 4.55 percent. Hellenic Postbank and Bank of Cyprus advanced 1.6 percent, while metals group Viohalco dropped 2.9 percent and Intralot lost 1.5 percent. Turnover totaled 340.9 million euros. (Bloomberg, Kathimerini)