Early buoyancy fizzles out, mood stays volatile

Early buyers of Greek stocks likely had later regrets yesterday, as the session’s initial buoyancy fizzled out, showing that the trend is definitely southbound and subject to international jitters. Small-caps proved especially vulnerable. The Athens Exchange (ATHEX) general index closed just 0.01 percent higher at 4,778.86 points, after rising as much as 1.73 percent higher during the session. The FTSE/ATHEX 20 blue chip index was down 0.07 percent, the FTSE/ATHEX Mid-40 declined 0.13 percent and the FTSE/ATHEX 80 small-cap index slumped 1.50 percent. The FTSE/ATHEX International nudged down 0.07 percent. Gaming systems firm Intralot outperformed among blue chips on the news of its clinching a deal to operate Russia’s lotto game, surging 3.77 percent. Cosmote climbed 2.25 percent, Coca-Cola HBC advanced 1.94 percent and Titan was 1.72 percent higher. Heavyweights OPAP and OTE also headed north, while banks National and Cyprus were unchanged. By contrast, Public Power Corporation headed south for the sixth consecutive session, dropping 1.92 percent, and was followed by all other banks, as well as Viohalco, Hellenic Petroleum, Hellenic Technodomiki and Motor Oil. Turnover came to -377.58 million, of which -67.97 million was in block trades. Banks Marfin Popular and Eurobank accounted for -74.7 million.