ASE overcomes early losses, ends on a high

Stocks gained slightly yesterday on the Athens Stock Exchange (ASE), with investors mostly chasing small-capitalization titles. The general index closed at its intraday high of 3,281.06 points, a gain of 14.25 points or 0.44 percent. During the session, it had reached as low as 3,248.53 points. The FTSE/ASE-20 index of blue chips gained 0.23 percent to close at 1,836.78 points. Mid-caps and small-caps gained 0.33 percent and 0.59 percent respectively. New 52-week highs were achieved by Aluminium of Greece, metals group Mytilineos, metal products firm METKA, the Thessaloniki Water and Sewage Company (EYATH), the Piraeus Port Authority and the Bank of Greece. Significant blue chip gainers included PPC (up 2.99 percent to 20.70 euros), metals group Viohalco (2.78 percent to 5.92 euros), OPAP (1.47 percent to 26.16 euros), cement firm Titan (1.39 percent to 27.76 euros), Duty Free Shops (1.36 percent to 14.66 euros) and CosmOTE (1.23 percent to 15.90 euros). Investment bank CSFB raised its share target price for OPAP to 30 euros. Of 338 traded stocks, 145 gained, 147 declined and 46 ended unchanged. Turnover reached 190.43 million euros, including 14.03 million in prearranged trades.

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