ECONOMY

Stabilization hovers around 4,800 points

Greek stock prices tended to stabilize yesterday, while shares elsewhere in Europe ended higher as stronger US housing data helped reduce worries over the health of the economy and kept the market’s weeklong winning run alive. Blue chips headed south while small-caps advanced. The Athens Exchange (ATHEX) general index closed virtually unchanged at 4,800.40 points, with volatility of around 50 points, a repetition of the last few sessions. The FTSE/ATHEX 20 blue chip index slipped 0.18 percent, the FTSE/ATHEX Mid-40 gained 0.20 percent and the FTSE/ATHEX 80 small-cap index advanced 1.42 percent. The FTSE/ATHEX International declined by 0.08 percent. Coca-Cola HBC outperformed among blue chips, climbing 2.35 percent to -34.80, Intralot advanced 1.84 percent to -25.46 and Alpha Bank was 1.32 percent higher at -23.00. By contrast, Public Power Corporation (PPC) fell 1.62 percent to -22.40 after hefty recent gains, National Bank was 1.44 percent lower at -42.36 and Postal Savings Bank slid 1.32 percent to -15.00. Turnover fell to -386.61 million, with -11.75 million in block trades. National Bank accounted for -57.40 million and ANEK Lines, which gained 4.4 percent, for -53.74 million. Analysts said yesterday’s stabilization trend was a good sign for the short-term consolidation of the index at around 4,800 points.