ECONOMY

Intralot, Mytilineos and Titan maintain ascent

The Athens Exchange (ATHEX) benchmark index gained for a second day, adding 10.94 points, or 0.3 percent, to 4,276.56. The FTSE/ATHEX 20 index of the country’s biggest companies advanced 0.1 percent to 2,258.47 points. Titan Cement gained 2.6 percent to 30.40 euros, the highest since February 26. HSBC Pantelakis SA raised its share price estimate for Greece’s biggest cement maker to 32.80 euros from 29.40 euros. Intralot continued its climb, adding 3.2 percent, while Mytilineos advanced 2.5 percent and Motor Oil rose 2 percent. OTE telecom fell 1 percent ahead of the expected announcement of a deal ceding the management to Deutsche Telekom. Neochimiki LV Lavrentiadis rose 2.2 percent to 19 euros, its highest close in four months. Carlyle Group bought an additional 6.5 percent stake in the Greek chemicals maker, increasing its holding to 80.5 percent. Sidenor climbed for a sixth day, advancing 4 percent to 12.46 euros. Nucor Corp, the largest US steel company by market value, agreed to buy 34 percent of a new joint venture with Greece’s biggest steelmaker. The venture will operate in the Balkans, Turkey, Cyprus and North Africa, Charlotte, North Carolina-based Nucor said. Turnover totaled 371.2 million euros. (Bloomberg, Kathimerini)