Athens Greece - Greek shares close higher, led up by the banking sector
Released on: November 6, 2007, 11:48 am
Press Release Author: infonews
Industry: Financial
Press Release Summary: (Update with full closing market report) ATHENS (Thomson Financial) - Greek shares closed higher and outperformed peer European bourses, led up by the banking sector.
Press Release Body: The ASE general index closed 0.3 pct higher at 5,284.2 and the blue chip index grew 0.5 pct to 2,819. The mid-cap index closed flat at 6,701 and small caps grew 0.5 pct to 1,133.7. The banking sector index gained 1 pct.
Advancers outnumbered decliners 132 to 97 while 97 were unchanged in slightly below-average trade of roughly 386 mln eur.
Bank of Piraeus led blue chip gainers and jumped 2.2 pct to 28.12 eur and the National Bank of Greece rose 1.4 pct to 47.28 eur, both boosted by the positive sentiment in the domestic banking sector.
Marfin Popular Bank rose 1.1 pct to 11.14 eur on continuing positive sentiment surrounding the bank after it was announced that Dubai Financial aims to acquire a 30 pct stake in the bank.
Titan Cement led blue chip decliners throughout the session and lost 1.4 pct to 32 eur, continuing its downward trend after releasing worse than expected nine-month results.
Electricity utility Public Power Corp recovered its earlier losses to close unchanged at 27 eur after announcing that its business plan will not be abandoned due to protests, adding that they are conducting further studies on the plan.
Chemical group Neochimiki closed 0.4 pct higher at 21.38 eur and pharmaceuticals company Alapis grew 0.8 pct to 2.49 eur. Both are expected to release their nine month results on Monday.
Bank of Cyprus ended 0.1 pct lower at 13.18 eur. A Thomson Financial News analysts poll said it nine-month group net profit is seen jumping 57 pct year-on-year to 350 mln eur when it announces its results on Nov 8.
Cooler company Frigoglass fell 1 pct to 25 eur. An analysts poll conducted by Thomson Financial News sees its nine-month group net profit growing 17 pct year on year to 44 mln eur.
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