ECONOMY

Blue chip auctions give the stock market a lift

Greek stocks bucked a relatively subdued climate elsewhere in Europe yesterday but their performance was lackluster due to low turnover. Analysts said the positive technical picture was made possible by auctions in several blue chips, which closed at the day’s highs. The Athens Stock Exchange (ASE) benchmark index was 0.79 percent higher at 3,747.98 points. Small-caps outperformed, with the FTSE/ASE Small-Cap 80 rising 1.63 percent. The blue chip FTSE/ASE 20 and the FTSE/ASE Mid-40 both added 0.73 percent. All sectoral indices but one gained, led by media and technology, which climbed 3.56 percent and 3.26 percent respectively. Food and beverages lost 1.07 percent. Intracom and Hellenic Petroleum led blue chips with gains of 3.72 percent and 3.21 percent respectively, ATEbank and National Bank were both more than 2 percent higher, and Eurobank, Duty Free Shops and OPAP added more than 1 percent. Germanos, OTE, Titan and Folli Follie also gained while Cosmote and Emporiki Bank were unchanged. In contrast, Coca-Cola HBC shed 1.90 percent, Hyatt 1.27 percent and Piraeus Bank 1.01 percent. Motor Oil, Public Power Corporation and Viohalco also headed south. Turnover totaled 194.35 million euros.