Greek shares close at session high- UPDATE

Greek shares close at session high- UPDATE

	Published : Thu, 08 Mar 2007 16:37 By : Agencies Print this Story

(Update with full reports)

ATHENS (AFX) - Greek shares closed at a session high as local sentiment was supported by gains on international bourses and by a positive start for Wall Street, dealers said.

The ASE general index closed up 1.4 pct to 4,533.3 points, while its component indices all finished higher.

Blue chips gained 0.8 pct to 2,445.9 points, while mid caps and small caps respectively gained 1.8 pct to 5,511.9 points and 1.6 pct to 875.5 points.

The session saw 185 stocks move higher, 69 dip lower, and 65 remained unchanged, while about 488 mln eur of shares changed hands.

Bottler Coca-Cola HBC climbed 4.4 pct to 31.64 eur on the improved market sentiment.

Hellenic Telecoms (OTE) closed up 2.3 pct to 21.9 eur on very heavy volume and market talk several European telecom firms are interested in acquiring a strategic stake.

Refiner Motor Oil gained 1.9 pct to close at 19.46 eur as oil prices firmed on news of an across-the-board decline in US energy stockpiles. Sector peer Hellenic Petroleum also closed 1.9 pct higher at 10.4 eur on the same news.

Mid-cap metals company Sidenor jumped 9.1 pct to close at 11.92 eur after broker Morgan Stanley initiated coverage with an 'overweight' rating and a target price of 14.8 eur because of its exposure to regional high growth construction markets.

Bank of Cyprus dropped 2.7 pct to 11.16 eur on comments by Marfin Popular Bank's chief executive, Andreas Vgenopoulos, that Marfin had no intention of bidding for the bank even though it acquired a stake of about 8 pct from Bank of Piraeus.

Electricity utility Public Power Corp ended 1 pct higher at 19.78 eur on press reports its joint venture Sencap advanced to the second round of the tender for the Former Yugoslav Republic of Macedonia's Negotino power plant.

Construction company Pantechniki gained 0.9 pct to 4.60 eur on news it signed a 19.85 mln eur deal with OTE for the renovation of its retail shops.

Source: Euro2day.gr NewsWire

cheryl@euro2day.gr

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