ECONOMY

August diehards keep pace but in thin trade

Small-caps outperformed in thin trade yesterday, with blue chips and mid-caps overcoming initial losses in response to a turnaround in other European markets. The Athens Stock Exchange benchmark index was 0.44 percent up at 3,853.40 points, closing at the day’s high with the help of blue chip auctions. All sectoral indices except telecoms and utility services headed north. Health, media and technology were the best performers. The FTSE blue chip index gained 0.43 percent, mid-caps added 0.20 percent and small-caps advanced 2.80 percent. Intracom and Alpha Bank led blue chips with gains of more than 2 percent, while Eurobank, ATEbank and Coca-Cola HBC gained more than 1.50 percent. Hellenic Petroleum, Hellenic Technodomiki, Viohalco, Germanos, Duty Free Shops, Motor Oil, OPAP and Titan also headed north. Hyatt and Piraeus Bank were unchanged, while Cosmote and OTE shed 1.09 percent and 0.89 percent respectively. Banks Emporiki and National, Public Power Corporation and Folli Follie also slid. Lavipharm closed near the limit, up for yet another session. Turnover fell further to 161.85 million euros but the technical picture remains, with the next resistance level at 3,899 points.