ECONOMY

Small-caps outperform

The Athens Stock Exchange (ASE) general index on Friday closed at 2,489.38 points – 1.55 percent higher than a week earlier – after reaching an intrasession high of 2,529.59 points, apparently fueled by high post-election expectations. However, analysts also said investors consolidated short-term gains of about 3-4 percent in the last two sessions. Part of the gains are seen being channeled back into the bourse from tomorrow, but a number of analysts are skeptical about the index capturing higher levels in the medium term. Weekly turnover reached 852.47 million euros, representing an average per session of 170.49 million. All FTSE indices advanced, led by the Small-Cap 80, which gained 2.44 percent. The blue chip index of 20 ended 2.11 percent higher, while the Mid-Cap 40 was up 0.32 percent. The FTSE/ASE 140, a composite of the above three, gained 1.90 percent. Most sectoral indices ended with gains. The IT equipment-solutions index outperformed, surging 5.13 percent, followed by banks, which advanced 3.49 percent, and textiles, up 3.39 percent. Basic metals lost 3.25 percent and information technology 2.36 percent. Of the 366 shares traded, 201 gained, 133 declined and 32 remained unchanged. The biggest gains were registered by Info-Quest (18.87 percent) and Cyclon Hellas (16.67 percent). The top losers were Eucleides, after having its suspension from trading lifted (down 15.89 percent) and Altec (down 11.25 percent). The week’s most marketable securities were OTE Telecom, its mobile subsidiary CosmOTE and Alpha Bank.