ECONOMY

Index drops, bounces up thanks to small-caps

Yesterday’s session on the Athens Stock Exchange (ASE) was marked by high volatility and nervousness. Still, the ASE kept its composure, conceding less ground than its European counterparts. An initial decline went unchecked until the general index reached about 2,270 points. Then it rallied, mainly thanks to small-capitalization stocks. The ASE general index closed at 2,290.90 points, a decline of 6.76 points or 0.29 percent. On a weekly basis, it dropped 1.22 percent. The FTSE/ASE-20 index of blue chips dropped 0.42 percent, to 1,210.69 points, and mid-caps fell 0.25 percent, while small-caps rose 0.33 percent. Among banks, there was pressure on the shares of Piraeus and Emporiki, which closed down 3.62 percent and 1.40 percent respectively. On the other hand, Eurobank and National gained 0.79 percent and 0.12 percent respectively. Other blue chips that gained include mobile telecommunications firm CosmOTE (0.91 percent) and Titan cement (0.70 percent). Among 348 stocks traded, 157 gained, 118 declined and 73 ended unchanged. Turnover increased to 97.55 million euros, including 9.49 million in prearranged share block transactions.