Bourse sees early gains evap­o­rate

Kathimerini English - - Business & Finance -

Gains on the Athens bourse fiz­zled yes­ter­day, leav­ing the gen­eral in­dex only just in the black as in­vestors tar­geted stocks in­cluded in the gov­ern­ment’s pri­va­ti­za­tion plans.

The Athens bourse’s bench­mark gen­eral in­dex inched 0.13 per­cent ahead to 1,281.72 points, af­ter reach­ing an in­tra-session high of 1,316 points.

Hel­lenic Post­bank (TT) out­per­formed, jump­ing 4.98 per­cent to 2.95 eu­ros. The Fi­nance Min­istry said on Mon­day it plans to sell 34 per­cent of the bank and is look­ing into pass­ing on an ad­di­tional 10 per­cent stake in TT via a strate­gic in­vestor or via the stock mar­ket.

Shares in the Thes­sa­loniki Wa­ter Com­pany (EYATH) also raced ahead 7.72 per­cent to 5.16 eu­ros. The min­istry said it wants to re­duce its hold­ing in the com­pany by sell­ing shares through the stock mar­ket and find­ing a strate­gic in­vestor for it. Banks added 0.79 per­cent. Na­tional Bank rose 0.66 per­cent to 4.56 eu­ros and Eurobank EFG ended at 3.22 eu­ros, up 1.29 per­cent.

Fourlis Hold­ings, the Ikea fran­chise-holder for Greece, jumped 3.80 per­cent to 4.90 eu­ros. Ear­lier the com­pany said first-quar­ter net in­come fell to 400,000 eu­ros from 5.6 mil­lion eu­ros in the same pe­riod a year ear­lier. Turnover reached 78.8 mil­lion eu­ros, ver­sus 74.3 mil­lion eu­ros in the pre­vi­ous session.

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