ECONOMY

Stocks rebound after a highly volatile day

In quite a memorable session with spectacular shifts, the Athens Stock Exchange (ASE) eventually recovered more than half of its Monday losses, with the ASE composite share rising by 3.15 percent to 3,763.92 points yesterday. The FTSE/ASE 20 index of blue chips rose by 3.49 percent to close at 2,021.79 points. Mid-caps gained 2.82 percent and small-caps rose by 4.46 percent. The FTSE/Athex International index gained 3.44 percent, reaching 5,260.68 points. The rebound in international markets affected the local one, too, with blue chips such as National Bank (4.51 percent), Eurobank (7.74 percent) and Piraeus Bank (7.51 percent) recording significant gains, despite spending some of the day in negative territory. Foreign observers suggest that Monday’s decline has opened many opportunities for buying, with UBS suggesting the decline was merely a correction and not the end of the bullish trend. Healthcare stocks outperformed, rising by 5.95 percent, followed by raw materials (5.29 percent) and banks (4.40 percent). The biggest gainers were Elfico, Nexans Hellas, Halcor, Hellenic Cables, Hitech SNT, Centric Multimedia, Sidenor, Veterin and Mesochoritis Bros. Of 313 traded shares, 257 gained, 39 declined and 17 ended unchanged. Turnover reached 397.58 million euros.