ECONOMY

Gains in OTE help boost stocks 1.2 pct

Greek stocks advanced yesterday, supported by solid gains in Coca-Cola Hellenic (CCH) and OTE telecom. The Athens bourse’s benchmark general index added 1.23 percent to end at 1,390.84 points. The blue chip FTSE/ATHEX 20 index advanced 1.11 percent to 647.14 points. Coke bottler CCH jumped 3.90 percent to 20 euros after Goldman Sachs initiated coverage on the share with a «buy» rating and a 25.90-euro target price. OTE rose 4.62 percent to 6.80 euros, bringing gains in the last seven days to nearly 11 percent. Banks inched ahead 0.12 percent. National Bank went up 1 percent to 6.04 euros but peer Alpha dipped 1.64 percent to 3.59 euros. Turnover reached 100 million euros, versus 94 million in the previous session.