ASE down in volatile, rumor-driven session

Stocks declined for the third day in a row yesterday on the Athens Stock Exchange (ASE), in a volatile session marked by rumors of a foreign bank buying into EFG Eurobank. As a result, Eurobank shares gained almost 5 percent before ending up 0.33 percent lower after the rumors turned out to be false. The ASE composite share price index closed at 3,958.70 points, a drop of 34.77 points or 0.87 percent. During the session, it had ranged between 3,947.61 and 4,039.41 points. The FTSE/Athex 20 index of blue chips declined 0.95 percent to close at 2,166.63 points, while mid-caps and small-caps declined 0.41 percent and 0.27 percent respectively. The FTSE/Athex International index declined 0.69 percent to close at 5,440.60 points. Among blue chips, significant gains were recorded by cement producer Titan (up 1.47 percent to 34.50 euros) and technology holding company Intracom (1.45 percent to 6.98 euros). By contrast, losses were registered by mobile telecommunications service provider Cosmote (down 2.09 percent to 18.78 euros), Alpha Bank (2 percent to 28.36 euros) and refiner Motor Oil (1.86 percent to 23.22 euros). Of 322 traded shares, 97 gained, 177 declined and 48 ended unchanged. Turnover reached 535.07 million euros, including 65.32 million in prearranged trades.

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