ECONOMY

Stocks fail to hold on to early gains, end flat

Stocks moved upward only slightly yesterday on the Athens Stock Exchange after failing to hold on to early gains. The ASE general index closed at 3,417.73 points, a gain of 1.75 points or 0.05 percent. During the session it reached a high of 3,432.96 points. The FTSE/ASE-20 index of blue chips gained 0.16 percent to close at 1,902.88 points, while mid-caps and small-caps declined 0.19 percent and 0.38 percent, respectively. Among blue chips, significant gains were made by ATEBank (up 2.02 percent to 5.06 euros), refiner Motor Oil (1.60 percent to 17.78 euros), electronics retailer and battery manufacturer Germanos (0.91 percent to 13.34 euros) and betting company OPAP (0.74 percent to 24.56 euros). By contrast, losses were sustained by telecommunications equipment manufacturer Intracom (down 1.51 percent to 5.22 euros), casino and hotel operator Hyatt (1.15 percent to 10.28 euros), refiner Hellenic Petroleum (1.11 percent to 12.48 euros) and cement producer Titan (1 percent to 29.60 euros). Of 331 traded stocks, 106 gained, 157 declined and 68 ended unchanged. Turnover reached 184.63 million euros, including 34.5 million in prearranged trades. The latter included the transfer of 459,366 OTE shares in six transactions, at prices ranging from 18.28 to 18.40 euros a share.