BUSINESS

ATHEX: Stocks edge lower as PPC sheds 10.1 pct

TAGS: Stocks

The Greek bourse continued to slide on Wednesday, led by bank stocks and Public Power Corporation, with traders waiting to see how the new round of negotiations with the country’s creditors goes ahead of next week’s Eurogroup, as demostrated by another day of low turnover.

The Athens Exchange (ATHEX) general index closed at 774.29 points, shedding 0.42 percent from Tuesday’s 777.53 points. The large-cap FTSE 25 index also contracted 0.42 percent, to 2,058.84 points.

Following the details announced about the separation of grid operator ADMIE from PPC and its Athens listing, PPC suffered a 10.11 percent slump.

Banks dropped 2.52 percent, with Piraeus shrinking 3.37 percent, Alpha falling 3.30 percent and Eurobank parting with 3.13 percent.

Among other blue chips Folli Follie improved 3.03 percent and Hellenic Petroleum climbed 2.56 percent.

In total 41 stocks reported gains, 61 registered losses and 15 remained unchanged.

Turnover amounted to 59.7 million euros, up from Tuesday’s 57.1 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.75 percent to 76.49 points.

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