Greek stocks jump to new year highs on Tuesday

Greek stocks surged to new year highs on Tuesday offering more surprises to investors and discrediting pessimistic forecasts over the course of the Athens Stock Exchange. The general index ended 1.77 percent higher at 2,078.12 points, a new record high for the year, reflecting strong gains in blue chip stocks that have remained in the shadow for much of the first half of 2003, such as Intracom, Hellenic Bottling, Public Power Corporation and Hellenic Telecommunications Organisation which recorded gains ranging from 3.0 to 5.88 percent. All sector indices ended higher, led by Publications (6.27 percent), Base Metals (3.35 percent) and Industrials (2.59 percent). Turnover was a hefty 219.3 million euros. The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 1.62 percent, the FTSE/ASE MID 40 index ended 2.12 percent higher, and the FTSE/ASE SmallCap 80 index rose 1.75 percent. Broadly, advancers led decliners by 243 to 73 with another 50 issues unchanged.