ECONOMY

Index ends bad week on a positive note

Equities ended firmer yesterday with buying interest switching to small- and mid-caps stocks. Investors shunned a number of blue chips that will be dropped from FTSE’s Euro-Mid index next week. The benchmark general share index closed 0.88 percent higher at 2,039.38 points but gave up 2.0 percent on the week. «We expected volatility from the expiries of futures and options contracts, which was the case in early trade, but then the market started to stabilize,» said analyst Constantina Panayiotaki at Axon Securities. A total of 58 Greek shares, among them Intracom, Motor Oil, Viohalco, Hellenic Technodomiki and Aluminium of Greece will be dropped from the FTSE Euro-Mid index on Monday, with brokers expecting possible selling by index tracking funds. Turnover rose to 148.11 million euros, with 31.7 million shares changing hands. Advancers led decliners 284 to 62, with 20 unchanged against 366 traded. (Reuters)