European rebound helps ASE, but public abstains

Stocks gained yesterday on the Athens Stock Exchange (ASE), following rebounding European markets, in a session marked by great investor reluctance and lower trading volume. The ASE composite share price index closed at 3,670.62 points, a gain of 27.98 points or 0.77 percent. The FTSE/ASE 20 index of blue chips gained 0.34 percent to close at 1,966.96 points, while mid- and small-caps gained 1.14 percent and 1.31 percent respectively. The FTSE/Athex International index gained 0.50 percent, to close at 5,118.61 points. Among blue chips, the top gainers were refiner Motor Oil (up 4.82 percent to 20.86 euros) and Hellenic Petroleum (2.91 percent to 10.60 euros), ATEbank (2.50 percent to 4.10 euros), bottler Coca-Cola HBC (2.33 percent to 23.70 euros), technology holding company Intracom (1.56 percent to 5.20 euros) and mobile telecommunications service provider Cosmote (1.27 percent to 17.52 euros). By contrast, significant losses were sustained by metals group Viohalco (down 1.50 percent to 7.86 euros) and jewelry maker and retailer Folli-Follie (1.35 percent to 19 euros). Out of 309 traded shares, 178 gained, 76 declined and 55 ended unchanged. Turnover reached 261.24 million euros, including 24.93 million in prearranged trades.