ECONOMY

Profit-taking interrupts market’s bullish streak

Stocks dropped yesterday on the Athens Stock Exchange (ASE), following seven sessions during which the market gained a total of 4.63 percent. The ASE composite share price index closed at 4,191.71 points, a fall of 53.43 points or 1.26 percent. Early in the session, it had climbed to 4,270.96 points, before profit-taking took over. The FTSE/Athex 20 index of blue chips declined 0.83 percent to close at 2,327.46 points, while mid- and small-caps fell 1.56 percent and 3.75 percent respectively. The FTSE/Athex International index declined 1.01 percent, closing at 5,833.94 points. Some banks resisted the trend and posted gains. Alpha led the pack, rising 1.35 percent to close at 31.50 euros, trailed by Piraeus (up 1.20 percent to 25.30 euros), National (0.70 percent to 43.84 euros) and ATEbank (0.33 percent to 6.14 euros). By contrast, worst hit among the blue chips were technology holding company Intracom (down 5.81 percent to 6.16 euros), metals group Viohalco (4.70 percent to 9.32 euros), Duty Free Shops (4.59 percent to 15.80 euros) and telecommunications company OTE (3.36 percent to 17.82 euros). Out of 321 traded shares, 35 gained, 265 declined and 21 ended unchanged. Turnover reached 405.67 million euros, including 22.5 million in prearranged trades.