Index rolls off highs due to profit-taking

Stocks fell yesterday on the Athens Stock Exchange (ASE) as investors sold holdings for short-term profits. Analysts said this was largely expected following Wednesday’s year-high. The ASE general index closed at 2,632.01 points, a drop of 12.42 points or 0.47 percent. The FTSE/ASE-20 index of blue chips dropped 0.61 percent, closing at 1,450.32 points, while mid-caps and small-caps fell 0.25 percent and 0.52 percent respectively. Some blue chips actually gained, Emporiki first and foremost. The bank gained 1.83 percent to reach a year-high of 24.48 euros. CosmOTE benefited from positive third-quarter results to gain 0.86 percent, closing at 14.10 euros. Parent company OTE gained 0.32 percent to close at 12.62 euros and construction company Hellenic Technodomiki climbed 1.21 percent to 3.34 euros. On the other hand, most major banks declined: Alpha Bank lost 1.45 percent to close at 24.40 euros, EFG Eurobank 1.40 percent to 21.12 euros and National 1.03 percent to 23.02 euros. Bottler Coca-Cola HBC and cement firm Titan also declined, 1.92 percent and 1.44 percent respectively. Of 357 traded shares, 130 gained, 160 declined and 67 ended unchanged. Turnover fell significantly, to 192.01 million euros, including 42.58 million in prearranged trades.