Market gains as buyers like blue chips

The Athens Stock Exchange bucked the negative trend observed on European markets Thursday, gaining 0.65% thanks to buying in banks and other blue chips.

The headline index ended at 1,314.31 points on turnover of 87.8 million euros, which was significantly lower than in previous sessions. Blue chips rose 0.69%, mid-caps added 0.44% and banks gained 1.20%. 

The highest gainers among blue chips, all rising more than 2%, were National Bank, Aegean Airlines, Mytilineos, Titan cement and Lamda Development. The few blue chip losers were Ellaktor, OPAP and Autohellas.

Analysts warn that the downgrade of US debt by Fitch Ratings negatively impacts all markets and that Athens cannot keep bucking the trend. Difficult times lie ahead, they say.