ECONOMY

National Bank drags index 0.02 pct lower

Greek stocks edged down amid a subdued climate yesterday, on low turnover and small-caps showing greater resistance than mid-caps and blue chips. The Athens Stock Exchange (ASE) general index was down 0.02 percent, closing at 3,693.04 points. The blue chip FTSE/ASE 20 index was down 0.44 percent, the FTSE/ASE Mid-40 fell 1.35 percent and the FTSE/ASE Small-Cap 80 fell 0.17 percent. Sectoral indices showed a mixed picture, with food and beverages advancing 2.63 percent on the back of the announcement of business deals. Insurance and media recorded the largest losses, 2.73 percent and 2.44 percent respectively. Banks were 1.66 percent down. In contrast, the outperformance of food and beverages was followed by raw materials, up 1.87 percent. Among blue chips, bellwether National Bank slumped 4.08 percent after Friday’s spectacular gains of nearly 9 percent, Folli Follie tumbled 2.08 percent, ATEbank shed 1.02 percent and OTE 0.70 percent. Cosmote outperformed with gains of 3.90 percent, Piraeus Bank surged 2.69 percent higher, Viohalco advanced 2.51 percent, Emporiki Bank gained 1.99 percent, Intracom 1.66 percent and Titan 1.42 percent. Turnover tumbled to 194.89 million euros, of which 38.13 million was accounted for by National Bank.