Blue chips help session end on a positive note

Shares resisted European gloom to end slightly higher yesterday, with investors concentrating on quality stocks while rebalancing their portfolios toward the end of the year, traders said. The general share index closed 0.14 percent up at 2,201.20 points, breaking through the psychological barrier of 2,200 points. «Blue chips managed to hold the market in positive ground for yet another day, despite the drop in Europe and especially Frankfurt,» said Nikos Galousis, analyst at Kappa Securities. «But most shares dropped due to weakness in the mid-cap and small-cap market,» he added. Traders added that volume was boosted by a block trade in Titan Cement, which continued a good run on news it was rejigging Bulgarian operations with the sale of a 500,000-ton plant, having said late on Monday it was to buy a million-ton plant. Investors also unloaded another 2.5 million shares of mobile telecom provider Panafon at 6.18 euros, still taking up an offer by its parent, British Vodafone, to buy up the chunk of Panafon it does not own. Turnover rose to 167.76 million euros, with 26.5 million shares changing hands. Decliners led advancers 225 to 69, with 61 stocks ending unchanged. (Reuters)