BUSINESS

ATHEX: Investors unimpressed by Eurogroup

TAGS: Stocks

The Greek stock exchange gave a lukewarm response on Wednesday to the news from Tuesday’s Eurogroup, as the conditional disbursement of the 10.3 billion euros in sub-tranches and the promise of a debt settlement in the future, without providing any concrete figures, were deemed unsatisfactory by the market, which had already factored in a successful conclusion to the bailout review. Most stocks posted gains, but banks suffered notable losses that dragged the benchmark marginally lower.

The Athens Exchange (ATHEX) general index closed at 641.80 points, shedding 0.04 percent from Tuesday’s 642.08 points. The large-cap FTSE 25 index contracted 0.75 percent to end at 180.91 points, while small-caps advanced 2.74 percent.

Banks slumped 3.40 percent, as Eurobank gave up 4.42 percent, Piraeus dropped 3.33 percent, Alpha lost 3.14 percent and National fell 2.90.

However, most other blue chips enjoyed a rise, led by construction-related companies such as Ellaktor (up 7.91 percent) and Titan Cement (5.61 percent). Jumbo decreased 3.09 percent.

In total 67 stocks recorded gains, 41 registered losses and 10 remained unchanged.

Turnover amounted to 163.4 million euros, up from Tuesday’s 159 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.03 percent to close at 67.60 points.

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