Small-caps outperform on Q4 results

The local bourse had already priced in Tuesday’s Eurogroup approval for the release of Greece’s 8.3-billion-euro loan tranche as well as eurozone officials’ favorable reactions to the news, and the main driver behind its moderate gains on Tuesday was last year’s financial results issued on Monday, which led small-caps to outperform the rest of the market and chalk up gains of 1.96 percent.

The Athens Exchange (ATHEX) general index closed at 1,342.75 points, adding 0.52 percent to Monday’s 1,335.74 points. The large-cap FTSE/ATHEX 25 expanded 0.66 percent to 433.22 points.

With the market appearing unfazed by recent political developments, which were by and large expected, it appears that the only thing that could rock the boat would be talk of early elections, while the next key date is Friday, when Moody’s is likely to upgrade Greece’s credit rating.

Frigoglass led the blue chips with a 3.40 percent rise, followed by National Bank (up 3.05 percent) and Hellenic Exchanges (2.86 percent). Alpha Bank declined by 2.10 percent and Jumbo gave up 1.54 percent.

In total, 71 stocks registered gains, 66 sustained losses and 26 remained unchanged.

Turnover amounted to 121.4 million euros, compared with 97.2 million on Monday.