ECONOMY

National Bank again dominates turnover

Greek stocks yesterday continued showing a stabilizing trend, with meager gains, low volatility and National Bank commanding a major part of turnover for the third consecutive session. The Athens Stock Exchange (ASE) general index edged 0.04 percent higher to 3,930.92 points, with small-caps reaping the most gains. The blue chip FTSE/ASE 20 added 0.10 percent, the FTSE/ASE Mid-40 slipped 0.03 percent, and the FTSE/ASE Small-Cap 80 ended 0.37 percent higher. Sectoral indices gave a mixed picture, with chemicals leading 1.31 percent higher and telecoms losing the most, 1.07 percent. Banks saw a rise of 0.52 percent. National Bank rebounded from three straight losing sessions with gains of 1.28 percent. Folli Follie advanced 1.52 percent and ATEbank added 1.41 percent. In contrast, Emporiki Bank shed 2.02 percent and OTE Telecom 1.31 percent. Intensifying rumors of pipe manufacturer Petzetakis’s plan to sell parts of the group in Greece and South Africa in order to meet pressing liabilities sent both its common and preferred stocks – under supervision for about a month – near the 20 percent limit up. Turnover totaled 313.47 million euros, of which 78.33 million was accounted for by National Bank.