ECONOMY

Stocks may move up on NBG news

Greek stocks could be headed for a positive start today, after index heavyweight National Bank (NBG) late on Friday reported better-than-expected earnings, boosting investor sentiment. National said net profit in the first half of the year declined 13 percent year-on-year to 708 million euros, beating analysts’ expectations of a figure around 660 million euros. The Athens bourse’s benchmark general index on Friday eased 0.16 percent to 2,540.40 points, bringing gains in the last week to 2.44 percent. Investors will also be chewing on the latest batch of earnings figures published last week, as the reporting season winds up today. Bank of Cyprus and gambling services company Intralot are among the last remaining firms scheduled to unveil profit figures today. Abroad, European shares touched a 10-month high on Friday on optimism for a global economic recovery. The FTSEurofirst 300 index of top European shares rose 1 percent to 978.34 points.