ECONOMY

Fourth day of gains for local stocks

Greek stocks rose for the fourth straight session yesterday, as buying momentum in National Bank (NBG) propelled the stock nearly 2 percent higher. The Athens bourse’s benchmark general index added 1.02 percent to end at 1,589.15 points. The blue chip FTSE/ATHEX 20 index grew by 1.15 percent to end at 776.78 points, as banks moved ahead 1.40 percent. National Bank jumped 2.22 percent to 8.28 euros, bringing gains over the last 30 days to just over 12 percent. Investment bank Natixis cut its price target on NBG yesterday to 8 euros from 11 euros previously. Alpha Bank climbed 1.53 percent to 5.30 euros and Eurobank EFG moved ahead 3.67 percent to 5.08 euros. Power company PPC dipped 2.05 percent to 12.42 euros, while Coca-Cola Hellenic ended at 18.90 euros, posting a rise of 2.16 percent. The Coke bottler is expected to report a third-quarter net income of 217.9 million euros, up 4 percent year-on-year according to Proton Securities. Coca-Cola Hellenic will kick off the reporting season for blue chips on Wednesday before the start of trade. Turnover fell to 90.4 million euros from 123 million in the previous session.