Greek Stocks: Elmec, Folli-Follie, Hellenic Duty Free, Metka

Greece’s benchmark ASE Index gained 40.84, or 2.7 percent, to 1,533.76 at the 5:30 p.m. close in Athens, its third day of gains.

The FTSE/ASE 20 Index of the country’s biggest companies rose 2.8 percent to 731.25. The Cypriot General Index added 3.9 percent to 1166.34.

The following shares were among the most active in Athens trading today. Symbols are in parentheses.

Hellenic Duty Free Shops SA (HDF GA) rose 2.9 percent to 4.65 euros, gaining for a fifth day. Shareholders approved a three-way merger agreement between the airport and port retailer, Folli-Follie (FOLLI GA) and Elmec Sport SA (ELME GA), according to an Athens bourse filing. The merger should lead to a “simpler and more efficient” cost structure, Proton Bank said in an e-mailed note today. Folli-Follie added 3.5 percent to 17.36 euros. Elmec was unchanged at 54 cents.

Metka SA (METTK GA) advanced 6.2 percent to 9.4 euros, its biggest gain since Nov. 3. Greece’s biggest power plant builder had its share price estimate raised to 14 euros from 13 euros at HSBC Holdings Plc, which cited a “fifth consecutive quarter of impressive growth.”

To contact the reporter on this story: Tom Stoukas in Athens astoukas@bloomberg.net.

To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.

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