ECONOMY

Momentum could push stocks higher

Investors will be looking to see whether the Athens bourse can build on recent gains after closing last week at a seven-week high. The Athens bourse’s benchmark general index recaptured the 1,600-point market on Friday, ending at 1,605.82 points. Brokers said that momentum could propel the market higher as buyers have started outnumbering sellers in the last few sessions, indicating improved sentiment. Buying in blue chips last week sent the FTSE/ATHEX 20 index up 3.30 percent, with gains rubbing off on the mid-cap FTSE/ATHEX 40 index, which added just over 3 percent. Signs of improved sentiment have boosted hopes that Greek stocks might trim the gap separating them from major European peers, brokers added. Since the start of the year, the Athens bourse has given up 26.8 percent, while London’s FTSE has advanced just over 6 percent and Germany’s DAX has advanced nearly 11 percent. Across the Atlantic, Wall Street is seen getting off to a cautious start today after a third week of gains, a flood of robust corporate earnings and a stronger outlook for the US economy.