ECONOMY

A slight correction as investors snap up gains

Stocks lost a little ground on the Athens Stock Exchange (ASE) yesterday, a development expected by most market analysts after four consecutive sessions with gains. The ASE general index closed at 3,047.64 points, a drop of 1.69 points or 0.06 percent. The FTSE/ASE-20 index of blue chips declined 0.10 percent to close at 1,715.01 points. Mid-caps gained 0.36 percent, while small-caps declined 0.31 percent. There was some slight liquidation of positions in banks. Among blue chips, there was a preference for OTE and OPAP. OTE gained 2.10 percent to close at a 52-week-high 15.50 euros, while OPAP gained 1.58 percent to close at 20.60 euros. Other stocks reaching 52-week highs were Coca-Cola HBC (up 1.14 percent to 23 euros), Mytilineos (1.94 percent) and Intralot (2.23 percent). By contrast, significant losses were sustained by the Public Power Corporation (down 3.86 percent to 19.94 euros), EFG Eurobank Ergasias (2.23 percent to 25.46 euros) and cement company Titan (1.39 percent). Of the 330 traded stocks, 86 gained, 165 declined and 79 ended unchanged. Turnover rose to 240.53 million euros, including 15.5 million in prearranged trades.