ECONOMY

Gains for week rise to 4 percent

Greek stocks finished the week off on a high note, advancing 1.86 percent on widespread gains as small-caps outperformed. Brokers said comments from European Central Bank, European Commission and International Monetary Fund officials on Thursday saying that government plans to reduce its deficit are on track helped boost market sentiment. The Athens bourse’s benchmark general index ended at 1,542.99 points, showing gains of 4 percent for the week. The blue chip FTSE/ATHEX 20 index added 1.96 percent to 736.49 points. OTE telecom, 30 percent-owned by Deutsche Telekom, led blue chips higher with a 6.29 percent jump to 6.25 euros. Betting company OPAP partly recovered form recent losses, rising 4.25 percent to 11.78 euros, as power company PPC advanced 1.73 percent to 12.94 euros. Banks rose 1.07 percent, bringing gains for the week to 3.14 percent. Bank of Cyprus jumped 3.12 percent to 3.64 euros and Eurobank rose 2.68 percent to 4.22 euros. The mid-cap FTSE/ATHEX 40 index added 0.97 percent, while the small-cap FTSE/ATHEX 80 index climbed 2.32 percent. Turnover rose to 129.4 million euros versus 73.8 million in the previous session.