Stocks rebound on ASE; PPC extends gains

Firmer blue chips led Greek equities 1.44 percent higher yesterday as the market bounced back after two consecutive drops, supported by strong gains in utility Public Power Corporation (PPC). «It was a technical reaction to the recent drops, in line with European bourses,» said Costas Zareifopoulos, analyst at Pentedekas Securities. The Athens bourse’s benchmark general index added 1.44 to 2,290.92 points. PPC extended its recent gains after joining the bourse’s blue chip index and Morgan Stanley’s Greece Index on Monday. PPC climbed 2.04 percent to 15 euros. Banks gained 1.53 percent, while National Bank added 2.03 percent to 22.14 euros a share. The bourse’s FTSE/ASE-20 blue chip index rose 1.40 percent to 1,208.92 points. The FTSE/ASE-40 of mid-caps ended 1.52 percent higher and small-caps on the FTSE/ASE-80 advanced 1.35 percent. Turnover was 100.58 million euros on volume of 26.5 million shares. Winners beat losers 274 to 55 while 31 shares were unchanged on 360 traded. (Reuters) World’s best