Mid-caps outperform as blue chips lose steam
Greek stocks shed most of their initial hefty gains toward the end of the session but stayed on the winning side for the third straight session. Mid-caps outperformed in a session of rather thin trade. The Athens Exchange (ATHEX) general index was up 0.18 percent at 4,909.48 points, while most other European bourses headed south. The FTSE/ATHEX 20 blue chip index gained 0.19 percent, the FTSE/ATHEX Mid-40 was up 1.14 percent, while the FTSE/ATHEX 80 small-cap index nudged 0.01 percent higher. Among blue chips, Coca-Cola HBC advanced 1.85 percent, Bank of Cyprus climbed 1.74 percent, Postal Savings Bank added 1.40 percent, while banks ATE and National were1.04 percent and 0.90 percent higher, respectively. Hellenic Petroleum, Titan and Intralot also headed north. By contrast, Public Power Corporation slumped 3.04 percent, Cosmote was down 1.23 percent and Motor Oil shed 1.16 percent. Viohalco, Hellenic Technodomiki, OPAP, banks Emporiki, Piraeus, Eurobank and MPB were also lower. OTE likewise dropped, despite Citigroup’s raising of the target price from -25 to -27. Turnover totaled -357.77 million, including -16.89 million in block trades. Analysts said the inflow of fresh funds has fallen, weakening the prospects of the general index capturing the 5,000-point level.
