ECONOMY

Index edges up on blue chip gains

Featuring the lowest turnover of the last seven sessions, yesterday saw stocks post small gains after a day of fluctuations and amid fears of a deeper recession in the pipeline. The Athens Exchange (ATHEX) general index closed at 1,749.59 points yesterday, gaining 0.82 percent from Tuesday’s close at 1,735.29 points. The blue chip FTSE/ATHEX 20 index grew 0.73 percent to end up at 859.37 points. Mytilineos outperformed blue chips, posting a rise of 7.48 percent with the arrival of the first load of liquefied natural gas, which signifies the liberalization of the natural gas market. It was followed by Public Power Corporation (up 4.41 percent), Motor Oil (3.38 percent) and Viohalco (2.30 percent). Worst off were the stocks of Titan Cement (down 2.28 percent), OTE telecom (1.99 percent) and ATEbank (1.39 percent). Construction and real estate development group GEK-TERNA posted a marginal 0.04 percent rise after news of making a major investment of 850 million euros in northern Evia, where an energy plant using natural gas will be developed with a license for 1,000 megawatts of output. The new plant will create about 1,700 jobs. Turnover amounted to 150.3 million euros.