ECONOMY

Small-caps buck trend in Athens

Peripheral stocks stole the show on the Athens bourse on Tuesday as blue chips were hit by losses on a day of particularly low turnover.

The Athens Exchange (ATHEX) general index ended at 1,288.32 points, down 1.39 percent from Monday?s close at 1,306.45 points.

The blue chip FTSE/ATHEX 20 index declined by 1.87 percent, but the small-cap FTSE/ATHEX 80 index inched up 0.91 percent.

It appears the market has already cashed in gains following the successful passage of the new austerity measures and is eyeing developments in the coming months.

Viohalco outperformed its blue chip peers with a rise of 3.19 percent, followed by Mytilineos (up 1.03 percent) and Motor Oil (0.93 percent). ATEbank reversed its impressive rising trajectory in recent days with an 11.60 percent drop on Tuesday, ahead of Public Power Corporation (down 6.57 percent), Alpha Bank (4.32 percent) and National Bank (2.8 percent).

In total, 68 stocks moved up, 70 went down and 46 remained unchanged. Unibios posted the biggest rise, with gains of 20 percent, while Lazaridis led the losers, dropping 10.53 percent.

Turnover came to just under 54 million euros on Tuesday, down from 77 million on Monday. This was the lowest volume of the last 49 sessions.