ECONOMY

ASE keeps its cool, shows potential for more gains

In keeping with other European markets, the Greek bourse remained cool yesterday after the news of North Korea’s nuclear test, which spread jitters across Asia. The Athens Stock Exchange (ASE) general index ended down 0.15 percent at 3.978.31 points but showed it could have done better in the absence of geopolitical concerns. The blue chip FTSE/ASE 20 shed 0.25 percent, the FTSE/ASE Mid 40 ended 0.16 percent lower but the FTSE/ASE Small-Cap 80 closed up 0.17 percent. Sectoral indices were evenly split between gainers and decliners. Media gained 2.41 percent, petroleum & gas closed up 1.15 percent, chemicals lost 1.22 percent and banks ended down 0.53 percent. Telecoms was unchanged. Intracom led blue chip winners with a gain of 3.25 percent, Motor Oil advanced 2.79 percent, Public Power Corporation added 1.32 percent and Alpha Bank rose 0.83 percent. Banks National and ATE declined most, shedding 1.76 percent and 1.52 percent respectively. Emporiki, Eurobank, Germanos, Coca-Cola HBC, OPAP and OTE also ended lower, while Piraeus Bank, Hellenic Petroleum, Duty Free Shops and Folli-Follie were unchanged. Turnover weakened to 220.74 million euros.