ECONOMY

Buoyant small-caps lead index up; Klonatex soars

Shares closed higher, tracking other European markets, dealers said. The Athens Stock Exchange general index ended up 5.85 points, or 0.25 percent, at 2,322.39 points. The FTSE/ASE-20 blue chip index rose 0.25 percent, while mid-caps gained 0.09 percent and small-caps added 1.90 percent. Among small-caps stocks, the Klonatex textiles and communications group’s five stocks stood out, rising between 17.11 and 17.86 percent on hopes the troubled group will convince banks to refinance its debts. Among blue chips, telecommunications fared relatively better, with OTE Telecom rising 0.98 percent to 10.30 euros, while its subsidiary CosmOTE advanced by 1.38 percent to 13.20 euros. The sectoral index rose 1.22 percent. Banks ended 0.32 percent higher, with National Bank rising 0.88 percent to 18.30 euros, Alpha Bank ending flat at 20.72 euros and Eurobank also flat at 17.62 euros. Energy monopoly Public Power Corporation (PPC) dropped 0.10 percent to 19.10 euros, while lottery operator OPAP rose 0.13 percent to 15.34 euros. Among 347 stocks traded, 212 gained, 84 retreated and 51 ended unchanged. Turnover was 70.88 million euros, of which 10.3 million concerned prearranged transfers of share blocks.