Blue chips slump while small-caps retain vigor
The continued outperformance on the part of Greek small-caps yesterday was not enough to halt the slide of the market as a whole, as the liquidation of blue chips, in line with trends elsewhere in Europe, was compounded by a lack of domestic news. Analysts said uncertainty emanated from fears of interest rates rising in the United States. The Athens Exchange (ATHEX) general index shed 0.52 percent to close at 4,841.86 points, after opening lower and rebounding later. The FTSE/ATHEX 20 blue chip index was down 0.62 percent, the FTSE/ATHEX Mid-40 inched 0.08 percent lower, while the FTSE/ATHEX 80 small-cap index ended 0.78 percent higher. Telecoms were down 0.94 percent, as mobile operator Cosmote tumbled 3.43 percent on its divident cutoff. Alpha Bank slumped 2.33 percent, Piraeus Bank was down 1.79 percent, Titan shed 1.27 percent, Intralot was 1.19 percent leaner and National Bank dropped 1.05 percent. By contrast, Hellenic Petroleum added 1.42 percent and Public Power Corporation continued its recent ascent with 1.03 percent. Viohalco, Hellenic Technodomiki, OPAP, banks ATE, Emporiki and Cyprus, and Coca-Cola HBC also headed north. Turnover totaled -347.6 million, including -71.6 million in block trades.
