Greek Stocks: EFG Eurobank, Ellaktor, Opap Move in Athens

Greece’s benchmark ASE Index added 12.37, or 0.7 percent, to 1,687.51 at 11:05 a.m. in Athens, rising for an eighth day. The gauge is on course for a 6.1 percent rise this week.

The FTSE/ASE 20 Index of the country’s biggest companies advanced 0.9 percent to 795.96. The Cypriot General Index gained 0.8 percent to 1,245.92.

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

EFG Eurobank Ergasias SA (EUROB GA) advanced for a fifth day, gaining 1.2 percent to 5.05 euros. Raiffeisen Bank International AG, eastern Europe’s third-biggest lender, agreed to buy a 70 percent stake for 490 million euros ($667.5 million) in Polish lender Polbank from Greece’s second-biggest lender.

Ellaktor SA (ELLAKTOR GA) added 2.8 percent to 4.06 euros, adding to a 1.5 percent gain yesterday. European Goldfields announcement that initial exploration results showed there is “extensive high grade mineralization” at Piavitsa, in northern Greece, is “encouraging” for Greece’s biggest builder, which holds a 19.5 percent stake, Proton Bank said in an e-mailed note today.

Opap SA (OPAP GA) rose 1 percent to 15.75 euros, a second day advance. Morgan Stanley raised its share-price estimate on Europe’s biggest listed gambling company to 15 euros from 12 euros. Separately, Nomura Holdings Inc. rated Opap “buy” with a 21.2 euro share-price estimate in new coverage.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

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

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