Greek Stocks: Alpha Bank, OTE, Mytilineos, National Bank Move
Greece’s benchmark ASE Index rose 16.19, or 1 percent, to 1,669.82 at the 5:20 p.m. close in Athens, after two days of declines.
The FTSE/ASE 20 Index of the country’s biggest companies advanced 1.1 percent to 781.27 today. The Cypriot General Index gained 1.4 percent to 1,226.76.
The following shares were among the most active in Athens trading today. Symbols are in parentheses.
Hellenic Telecommunications Organization SA (HTO GA) added 3.2 percent to 8.10 euros, its second day of gains. Greece’s largest telephone services provider had its price estimate raised to 10 euros from 8.10 euros at Piraeus Securities.
Mytilineos Holdings SA (MYTIL GA) surged 5 percent to 5.49 euros, its biggest gain since Jan. 19. The Greek metals and energy group faces positive market conditions across its business units including strong commodity prices and a high backlog of contracts outside of Greece, Alpha Finance said in an e-mailed broker note.
Separately, Mytilineos and Motor Oil Hellas SA (MOH GA) said their jointly held company M&M Natural Gas SA received a license in Greece to supply natural gas, according to an Athens bourse filing today.
National Bank of Greece SA (ETE GA) climbed 2.7 percent to 7.70 euros, snapping two days of losses. Goldman Sachs Group Inc. is telling investors to buy European bank stocks for the first time in more than 16 months, betting political leaders will bridge their differences over the mandate of the European Financial Stability Facility and stop the region’s debt crisis from spreading.
Alpha Bank AE (ALPHA GA) added 1.5 percent to 4.66 euros. Bank of Cyprus Pcl (BOC GA) gained 3.3 percent to 3.40 euros.
To contact the reporter on this story: Tom Stoukas in Athens at email@example.com