Stocks run out of steam after early surge

After registering gains on Tuesday, the local bourse’s benchmark index only just managed to remain afloat on Wednesday, despite having climbed as high as 1,047.95 points earlier in the session.

The Athens Exchange (ATHEX) general index closed at 1,039.49 points, inching up 0.12 percent from Tuesday’s 1,038.26 points. However, its impressive performance earlier in the day showed that the benchmark has the 1,050-point mark within its sights.

The large-cap FTSE/ATHEX-25 index expanded by 0.13 percent, ending at 349.33 points, while the small-cap grew by 1.46 percent.

Blue chips had a mixed day, with Eurobank adding 6.96 percent, Intralot growing by 4 percent and Piraeus Port Authority rising 3.05 percent. OPAP’s 0.68 percent gains were crucial in keeping the main index afloat.

At the other end of the spectrum, Frigoglass contracted by 2.32 percent and Motor Oil gave up 2.31 percent.

In total 80 stocks went up, 63 came down and 26 remained unchanged.

Turnover amounted to 47.8 million euros, down from Tuesday’s 50.4 million.