Market loses steam after five straight win days

Greek stocks lost some ground yesterday after gaining a total of 4.28 percent in the previous five consecutive sessions. The Athens Stock Exchange general index eased 0.28 percent to 4,304.73 points. Most shares headed south, with small caps recording the largest losses. Likewise, most of the sectoral indices ended lower, with utilities shedding most at 2.34 percent. Commerce led with gains of 2.38 percent. Banks showed no change. Cosmote and Germanos, which had been suspended from trading since Friday pending details of the former’s acquisition of the latter, returned to trading. Cosmote shed 2.35 percent while Germanos gained 3.22 percent, outperforming among blue chips. The blue chip FTSE/Athens 20 index fell 0.28 percent, FTSE/Athex Mid 40 slipped 0.15 percent and FTSE/Athens Small Cap 80 slid 1.11 percent. Among blue chips, ATEbank gained 1.95 percent, Piraeus Bank added 1.81 percent and Folli Follie gained 1.09 percent. In contrast, the Public Power Corporation lost 2.33 percent, Alpha Bank was 1.48 percent lower and Viohalco shed 1.29 percent. Turnover shot up to 525.04 million euros, of which 156 million represented Cosmote’s buy of 6.5 million shares of Germanos.