Athens bourse to track foreign peers

The Athens bourse may be heading for further choppy trade this week with investors keeping an eye on international markets as well as indications of the health of the local and global economy. On Friday, the benchmark general index gained 1.77 percent to 2,107.10 points, adding 2.27 percent for the week. Some analysts have described recent gains as a bear market rally, where short-term gains are recorded but the trend continues downward. On the blue chip earnings front, newsflow is thin. Refineries Motor Oil and Hellenic Petroleum are scheduled to release nine-month figures today and Wednesday respectively. Data on Greece’s third-quarter GDP is also expected on Friday. On the international scene, US and European stock markets posted strong gains Friday, as investors bet that a weaker-than-expected US jobs report would prompt more interest rate cuts.