Correction ends ASE’s nine-session rally
Stocks dropped significantly yesterday on the Athens Stock Exchange (ASE), ending a nine-session upward run during which the market had gained 6.11 percent. Blue chips bore the brunt of the corrections, while mid-caps, buoyed by shipping stocks, held their ground. The ASE composite share price index closed at 4,245.94 points, a drop of 56.68 points or 1.32 percent. The FTSE/ASE 20 index of blue chips declined 1.63 percent to close at 2,306.25 points. Mid-caps gained 0.28 percent but small-caps declined 0.62 percent. The FTSE/Athex International index declined 1.19 percent, closing at 5,917.42 points. A few blue chips resisted the trend, led by technology holding company Intracom (up 1.84 percent to 6.64 euros), jewelry maker and retailer Folli-Follie (1.08 percent to 24.32 euros) and refiner Hellenic Petroleum (0.83 percent to 12.10 euros). By contrast, the biggest losers were bottler Coca-Cola HBC (down 4.93 percent to 26.20 euros), electricity company PPC (2.75 percent to 19.10 euros), Emporiki Bank (2.25 percent to 28.64 euros) and metals group Viohalco (2.20 percent to 8.88 euros). Out of 315 traded shares, 87 gained, 182 declined and 46 ended unchanged. Turnover reached 355.23 million euros, including 90.23 million in prearranged trades.
