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Greek Stocks: Jumbo, Metka, Mytilineos Holdings Move in Athens

Nov. 18 (Bloomberg) -- The ASE Index added 26.83, or 1.8 percent, to 1,491.51 as of 11:15 a.m. in Athens, paring a 2 percent drop yesterday.

The FTSE/ASE 20 Index of the country’s biggest companies rose 2 percent to 706.6, while the Cypriot General Index gained 1 percent to 1,147.36.

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

Jumbo SA (BELA GA) gained 4.1 percent to 5.4 euros, erasing a 2.6 percent decline the previous day. Piraeus Securities raised its share-price estimate on Greece’s biggest toy and baby products retailer to 5.8 euros from 5.3 euros. Separately, Euroxx Securities said the target for a 2 percent increase of sales this year seemed “well within reach” on Jumbo’s disclosure of positive Oct. sales and rapid network expansion.

Mytilineos Holdings SA (MYTIL GA) rose 3.8 percent to 4.38 euros, snapping a three day drop. The Greek metals and energy group said profit in the nine months to Sept. 30 tripled after the company increased exports and earnings grew at its Metka power plant builder unit.

Metka SA (METTK GA) added 2.3 percent to 9 euros, advancing for a second day. Greece’s biggest power plant builder, a separately listed unit of Mytilineos, said nine-month net income jumped to 70.1 million euros ($95.6 million) from 19.9 million euros a year earlier.

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

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

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