ECONOMY

Most stocks decline, but index gains

Considerable fluctuations on the Greek bourse yesterday generated nervousness among investors, but the end result was a small rise for the market’s main index despite losses for most banks and the majority of stocks. The Athens Exchange (ATHEX) general index closed at 1,408.84 points yesterday, rising 0.35 percent over Monday’s close at 1,403.92 points. The blue chip FTSE/ATHEX 20 index rose 0.34 percent to end up at 669.99 points. Once again the market showed it lacked direction, as it failed to rebound in the aftermath of two very negative sessions. Big gains for Public Power Corporation (up 6.75 percent) and lottery operator OPAP (4.77 percent) helped the index to end higher, offsetting the banks’ decline; their sectoral index contracted by 1.25 percent. Ellaktor gained 4.44 percent and Titan cement added 4.29 percent. Alpha Bank lost 3.48 percent and OTE telecom declined by 2.44 percent. ATEbank was the only banking stock to post gains, adding two percentage points. There were 50 stocks that went up, 133 that slid down and 53 which ended unchanged. More than 30 stocks posted losses of between 7 and 20 percent. Turnover amounted to 127.5 million euros.