Stocks keep rising for a third day
Greek stocks moved higher for the third straight session yesterday on across-the-board gains, with power company PPC jumping more than 6 percent. The Athens bourse’s benchmark general index added 0.43 percent to 1,777.55 points, testing the 1,770- to 1,775-point resistance levels, according to analysts. PPC added 6.04 percent to 13.87 euros, bringing gains over the last month to 22.8 percent. The blue chip FTSE/ATHEX 20 index firmed 0.38 percent to 877.38 points. OTE telecom, scheduled to unveil second-quarter earnings today after the close of trade, eased 0.61 percent to 6.50 euros. Analysts expect OTE to show a net loss of 7.2 million euros for the April-June period versus a 5-million-euro profit in 2009. Energy and metals company Mytilineos added 1.77 percent to 5.18 percent. After the close of trade it said first-half net profits rose to 39.7 million euros, from 10.2 million euros in the same period a year earlier, beating market expectations. Shares in Mytilineos subsidiary Metka eased 0.93 percent to 9.58 euros. Turnover reached 86.7 million euros versus 128 million in the previous session.
