Stocks declined significantly yesterday on the Athens Stock Exchange, despite the slightly optimistic mood in Europe, in what analysts said was an expected correction following the ASE’s bullish performance so far this year.

The ASE composite share price index closed at 4,091.44 points, a drop of 57.14 points or 1.38 percent. The FTSE/Athex 20 index of blue chips declined 1.36 percent to close at 2,237.08 points, while mid-caps and small-caps declined 2.30 and 2.01 percent respectively. The FTSE/Athex International index declined 1.51 percent to close at 5,641.53 points.

Only two blue chips ended with gains: electricity company PPC (up 2.97 percent to 18 euros) and refiner Hellenic Petroleum (0.33 percent to 12.30 euros), while bottler Coca-Cola HBC ended unchanged at 25.50 euros. Among the rest, the biggest losses were sustained by metals group Viohalco (down 6.11 percent to 9.84 euros), ATEBank (2.46 percent to 5.56 euros), betting company OPAP (2.24 percent to 32.26 euros), EFG Eurobank (2.19 percent to 33.06 euros), Emporiki Bank (2.10 percent to 28 euros) and Piraeus Bank (2.07 percent to 20.80 euros).

Of 329 traded shares, 55 gained, 241 declined and 33 ended unchanged.

Turnover reached 284.74 million euros, including 14.2 million in prearranged trades.