ECONOMY

ASE rises, following European bourses

Blue chips rallied yesterday, tracking European bourses, with bottler Coca-Cola HBC (CCHBC) advancing more than 6 percent after the group canceled a share offering and removed overhang concerns. Telecom stocks scored a rare day in the black after Deutsche Bank upgraded OTE Telecom to «buy» from «hold.» The benchmark general index ended with gains of 0.97 percent at 1,836.22 points. «I consider this to be mainly a technical rebound. It was a bit of a mixed picture, with some local news boosting stocks and a lift on European bourses helping,» said head analyst Vassilis Vlastarakis at Contalexis Financial Services. Blue chips on the FTSE/ASE-20 index rose 0.21 percent to 930.43 points. Mid-caps rose 0.63 percent, while small-caps gained 0.71 percent. Turnover was slightly lower at 92.72 million euros from 95.98 million the previous day. A total of 23.2 million shares changed hands. Winners beat losers 155 to 146, while 59 shares were unchanged on 360 traded. (Reuters)