BUSINESS

ATHEX: Uncertainty weighs on benchmark

TAGS: Stocks

Bank stock losses led the Athens benchmark into negative territory on Wednesday, even though the majority of stocks ended higher, and it appears that lingering doubts over the solvency of the local credit sector will not go away until a decisive answer is given, one way or another.

The Athens Exchange (ATHEX) general index ended at 811.70 points, shedding 0.14 percent from Tuesday’s 812.85 points. The large-cap FTSE-26 index contracted 0.48 percent to 2,128.40 points, while mid-caps expanded 2.12 percent.

Banks shrank 0.37 percent on the back of Alpha’s 1.44 percent drop and National’s 0.61 percent decline. In contrast, Piraeus ascended 0.70 percent, Eurobank rose 0.82 percent and Attica increased 4.65 percent. Sarantis grew 3.45 percent and ADMIE improved 2.48 percent, while Aegean Air fell 2.45 percent.

In total 59 stocks posted gains, 40 reported losses and 22 ended unchanged.

Turnover amounted to 44.1 million euros, up from Tuesday’s 34.7 million.

In Nicosia the general index of the Cyprus Stock Exchange edged up 0.04 percent to close at 76.12 points.

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