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Greek Stocks: Hellenic Duty Free Shops, Metka Move in Athens

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Dec. 7 (Bloomberg) -- The ASE Index rose 41.07, or 2.8 percent, to 1,533.99 as of 12:39 p.m. in Athens, heading for a third advance.

The FTSE/ASE 20 Index of the country’s biggest companies gained 2.9 percent to 732.12, while the Cypriot General Index added 3.6 percent to 1,163.23.

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

Hellenic Duty Free Shops SA (HDF GA) rose 1.3 percent to 4.58 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.

Metka SA (METTK GA) advanced 4.1 percent to 9.21 euros, snapping a two day decline. 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: 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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