Uncertainty shown in volatility, low turnover

Greek stocks edged down after a volatile session yesterday, with a strong showing by mid-caps – partly the result of Bank of Cyprus outperforming with gains of 8.84 percent after it said it would reconsider its bid for Emporiki Bank. The Athens Stock Exchange (ASE) general index was down 0.12 percent to 3,548.95 points. The blue chip index was 0.16 percent trimmer, mid-caps jumped 2.46 percent and small-caps added 0.56 percent. Most sectoral indices gained, led by media, which gained 1.91 percent. Banks were 0.76 higher but utilities tumbled 2.18 percent. Among blue chips, Emporiki Bank slumped 3.70 percent, Duty Free Shops shed 2.67 percent, Public Power Corporation was 2.43 percent leaner, ATEbank lost 2.17 percent and OPAP was down 1.48 percent. Banks National and Eurobank, Viohalco, Germanos, Coca-Cola HBC and Titan also declined. In contrast, Piraeus Bank advanced 2.27 percent, OTE added 1.33 percent, Intracom was 0.88 percent higher and Alpha Bank edged 0.43 percent up. Hyatt, Hellenic Technodomiki, Cosmote, Motor Oil and Folli Follie were unchanged. Meat producer Nikas was the top gainer after private equity fund Global Capital Investors II LP submitted an offer to fully acquire the firm. Turnover totaled 197.7 million euros.