Maturing derivatives call the market tune

Greek stocks performed rather nervously yesterday, affected by maturing futures derivatives contracts. The Athens Stock Exchange (ASE) general index fluctuated between -0.32 percent and +0.36 percent during the session, eventually stabilizing on buying interest in a number of blue chips. It ended the day just 0.07 percent up at 3,064.20 points, yielding a gain of 4.57 percent for the week. Gaming company OPAP was the star of the day after announcing results and dividend payout higher than analysts’ forecasts. It closed 3.44 percent higher, at 22.28 euros, a new year-high. The index was also propped up by OTE Telecom and CosmOTE, which gained 1.50 percent and 0.89 percent respectively. Other blue chips performing well were Hellenic Technodomiki, which advanced 2.86 percent, and Titan cement, which ended 1.68 percent higher. Banks were rather out of favor, and their sectoral index declined 1 percent. The FTSE/ASE-20 blue chip index gained in line with the general index, but the respective mid- and small-caps indices receded 0.35 percent and 0.15 percent. Decliners outnumbered advancers 168 to 122, with 62 stock prices remaining unchanged on 352 traded. Turnover fell to 206.80 million euros.

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