BUSINESS

ATHEX: Bourse slides 0.66 pct after 2 days of gains

TAGS: Stocks

The Greek bourse moved in line with the majority of eurozone markets on Wednesday, posting a mild correction after two sessions of gains for most of its stocks. Turnover dropped again as traders await the outcome of this weekend’s annual meeting of the International Monetary Fund and Monday’s Eurogroup.

The Athens Exchange (ATHEX) general index closed at 575.37 points, shedding 0.66 percent from Tuesday’s 579.18 points. The FTSE 25 index contracted 0.98 percent to end at 1,527.64 points.

Pressure grew on bank stocks, with their index sliding 1.08 percent. Piraeus Bank fell 2.80 percent, Eurobank dropped 2.09 percent and National declined 1.05 percent. Alpha was a non-mover.

Along the day’s other losers were Folli Follie (down 2.11 percent), Coca-Cola HBC (1.86 percent) and Lamda Development (1.70 percent), while Terna Energy climbed 1.15 percent, Hellenic Exchanges rose 0.95 percent and Aegean Air advanced 0.65 percent. Mytilineos fell 1.35 percent as investors cashed in gains made during the five previous sessions.

In total 40 stocks recorded gains, 52 sustained losses and 13 remained unchanged.

Turnover amounted to 23.8 million euros, down from Tuesday’s 30 million.

In Nicosia the general index of the Cyprus Stock Exchange was unchanged on Wednesday, closing again at 66.13 points.

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