ECONOMY

Broad gains lead general index 2.47 pct higher

Across-the-board gains led the Athens bourse 2.47 percent higher yesterday as the market tracked its European peers, ending the week up 5.7 percent. The gains are largely due to positive performances on European bourses, said Grigoris Karagianopoulos, analyst at Bank of Cyprus Securities. The benchmark general index ended at 2,226.05 points yesterday, bringing the week’s gains to 120.49 points or 5.7 percent. Brokers said the local bourse tracked European peers more closely yesterday after largely underperforming them during the week, as players waited to assess the strength of the rally in European shares before re-entering the market. The FTSE/ASE-40 index of mid-caps gained 3.37 percent as the sector rebounded after losing 21 percent since September 11. Market participants said that betting on likely candidates for inclusion in Morgan Stanley Capital International’s new Greece small-cap index helped mid-caps hold early gains. The FTSE/ASE-80 index of small-caps advanced 3.82 percent. Blue chips added 2.38 percent to 1,243.05 points. Trading volume was at 168.32 million euros on 34.5 million shares traded.(Reuters) New York City