ASE gains more than 22% in 2011 rally

Share prices’ gains surpassed 100 pct during a rally at the Athens Stock Exchange this year, which pushed the composite index of the market from a low of 1,370 to around 1,700 points currently.

The Greek bourse apparently surprised even the most optimistic portfolios, which expected a correction in the market, as the composite index recovered losses of the previous five months, establishing a more positive climate in the market.

The composite index moved up for four weeks in a row, for a net gain of 21.54 pct, with the Big Cap index rising 22.06 pct, the Mid Cap index up 14.99 pct and the Small Cap index rising 22.41 pct.

Cyprus Bank (45.92 pct), Ellaktor (31.37 pct), Mytilineos (31.34 pct), Eurobank (30.27 pct), Hellenic Petroleum (30.27 pct), Viohalco (29.53 pct), National Bank (28.76 pct), Alpha Bank (27.26 pct) and Motor Oil (25.07 pct) were top gainers among blue chip stocks. Among medium-capitalization stocks, Korinth Pipes (64.18 pct), Halcor (56.67 pct), Mihaniki (51.52 pct), Proton Bank (50 pct) and Elval (41.35 pct) were top gainers, while among small caps, Intrakat (125.42 pct), ETEM (103.03 pct), Alko (85.29 pct) and Vioter (75 pct) were top gainers.

On the other hand, Pegasus (20.9 pct), Tegopoulos (17.14 pct) and Edrasi (12.5 pct) were major losers.