Market declines again as small-caps tumble

Stocks declined for the second day in a row yesterday on the Athens Stock Exchange (ASE), in a volatile session which saw medium- and small-capitalization stocks lose ground following statements by the head of the market watchdog body confirming the eventual abolition of the opportunity to pay for a share within three days of purchase. The ASE composite share price index closed at 3,993.47 points, a drop of 13.93 points or 0.35 percent. During the session, it had ranged between 3,986.73 and 4,041.66 points. The FTSE/Athex 20 index of blue chips declined 0.51 percent to close at 2,187.40 points, while mid-caps and small-caps declined 0.78 percent and 1.54 percent respectively. The FTSE/Athex International index declined 0.66 percent to close at 5,478.30 points. Among blue chips, significant gains were recorded by bottler Coca-Cola HBC (up 4.17 percent to 25 euros), metals group Viohalco (2.53 percent to 9 euros) and electronics retailer Germanos (2.47 percent to 17.40 euros). By contrast, losses were registered by, among others, technology holding company Intracom (down 3.37 percent to 6.88 euros) and jewelry maker and retailer Folli-Follie (2.37 percent to 25.50 euros). Of 328 traded shares, 106 gained, 186 declined and 36 ended unchanged. Turnover reached 331.70 million euros, including 27.45 million in prearranged trades.

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