ECONOMY

Rebound buckles under new oil price jitters

Tuesday’s rebound proved short-lived for shares on the Athens Stock Exchange (ASE) yesterday, as volatility across Europe due to a new rise in oil prices rekindled uncertainties. A rise in turnover was too small to lift it above lackluster levels. The general index shed 18.21 points, or 0.80 percent, to close at 2,255.69. Blue chips receded 0.85 percent, mid-caps lost 1.24 percent and small-caps ended 1.08 percent lower. Of the sectoral indices, only refineries escaped the all-round gloom, advancing 1.09 percent, mainly due to Hellenic Petroleum’s gain of 1.78 percent. The heavyweight sectors of banks and telecoms fell 1.05 percent and 0.31 percent respectively. All major banks headed south, led by Agricultural Bank which ended 3.67 percent lower. Other blue chips that shed more than 2 percent included Intracom, Hellenic Technodomiki, Titan, Viohalco and Germanos. The most marketable securities were CosmOTE, Viohalco, OTE and Titan. Turnover reached 79.11 million euros. Decliners outnumbered advancers 236 to 58, with 55 remaining unchanged, on 349 traded. The market’s total capitalization stands at 80.4 billion euros.