Stocks dip; small-caps outperform

Greek stocks dipped yesterday on mild profit-taking after the market’s recent advance, with buyers turning to small-caps. The Athens bourse’s benchmark general index eased 0.67 percent to 1,523.51 points. Brokers described the fact that the general index remains above the 1,500-point psychological mark as positive, and said that the next technical resistance level is seen at around 1,560 points. The blue chip FTSE/ATHEX 20 index gave up 0.27 percent, ending at 729.26 points after jumping 2.75 percent on Tuesday. Coca-Cola Hellenic tumbled 5.51 percent to 19.55 euros and OTE telecom retreated 2.93 percent to 7.30 euros. Power company PPC added 1.13 percent to end at 11.67 euros and construction group Ellaktor rose 1.49 percent to 3.41 euros. Oil refinery Motor Oil added 2.60 percent to end at 7.90 euros while sector peer Hellenic Petroleum ended flat at 5.72 euros. Banks firmed 0.44 percent. National Bank advanced 1.43 percent to 7.11 euros and Piraeus Bank gained 2.17 percent to end at 3.30 euros. The mid-cap FTSE/ATHEX 40 index ended the day flat, off 0.03 percent, while the small-cap FTSE/ATHEX 80 index jumped 2.49 percent. Turnover eased to 69 million euros from 110 million in the previous session.

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