ATHEX: Bourse index reaches peak of 16 weeks

TAGS: Stocks

The benchmark on the Greek bourse on Wednesday edged up for a fourth straight day to reach levels unseen since the British referendum on its departure from the European Union on June 23. Yet a drop among small-caps meant that the majority of stocks in the market registered losses and trading volume returned to below 30 million euros, as traders remain in search of a new direction.

The Athens Exchange (ATHEX) general index closed at 586.24 points, adding 0.16 percent to Tuesday’s 585.30 points. The FTSE 25 index expanded 0.14 percent to end at 1,560.15 points. However, small-caps contracted 0.21 percent.

Banks also had a mixed picture, as Eurobank fell 1.68 percent, while Alpha advanced 1.21 percent. Public Power Corporation stole the show with a 2.91 percent increase, ahead of GEK Terna (up 1.98 percent) and Motor Oil (1.88 percent). OPAP gave up 0.78 percent.

In total 36 stocks recorded gains, 51 sustained losses and 17 remained unchanged.

Also affected by a technical glitch in the morning that stopped trading for about an hour and 20 minutes, turnover amounted to just 29.2 million euros, down from Tuesday’s 42.6 million.

In Nicosia the general index of the Cyprus Stock Exchange decreased 0.09 percent, closing at 66.66 points.