Blue chips dip, coastal shippers are buoyed

Coastal shippers had a field day on the Greek bourse yesterday, with the Laskaridis group announcing the acquisition of a 22.25 percent stake in Minoan Lines from Attica Holdings. Minoan accounted for more than 20 percent of total turnover. Blue chips lost new ground – not offset by mid- and small-cap gains, with heavyweight banks in particular coming under pressure and despite a good performance by telecoms. The Athens Exchange (ATHEX) general index was down 0.48 percent at 4,885.95. The FTSE/ATHEX 20 blue chip index shed 0.62 percent, while the FTSE/ATHEX Mid-40 nudged 0.07 percent higher and the FTSE/ATHEX 80 small-cap index gained 0.18 percent. The FTSE/ATHEX international index posted a 0.48 percent drop. Minoan surged 5.30 percent, Attica jumped 5.45 percent, ANEK ascended 4.37 percent and NEL added 3.08 percent. Piraeus Bank led blue chip decliners, ending 2.74 percent lower, Alpha Bank shed 2.14 percent, Eurobank was 1.76 percent leaner, Coca-Cola HBC was down 1.76 percent and Hellenic Technodomiki lost 1.60 percent. ATEbank, Viohalco and OPAP also headed south. By contrast, Hellenic Petroleum rose 1.70 percent, OTE gained 1.22 percent and Cosmote was 0.63 percent higher. Turnover totaled -450.18 million, including -134.51 million in block trades.

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