BUSINESS

ATHEX: Benchmark spends all day in the red

TAGS: Stocks

After four weeks of constant growth interrupted only by the occasional day of profit taking, local stocks posted a proper drop on Wednesday at Athinon Avenue, with the benchmark spending the entire day in the red. However, the fact that the benchmark and other indices had risen from their day-lows suggests that the market is still looking up.

The Athens Exchange (ATHEX) general index ended at 841.51 points, shedding 1.33 percent from Tuesday’s 852.81 points. The large-cap FTSE-25 index contracted 1.09 percent to 2,162.89 points, while small-caps advanced 0.66 percent.

The banks index avoided the worst, as it closed with losses of 2.25 percent, having slumped by up to 4.73 percent during the day. Piraeus fell 4.38 percent, Alpha conceded 2.50 percent, Eurobank shrank 2.36 percent and National gave up 0.58 percent. PPC decreased 2.95 percent, while Aegean Air was the only blue chip to grow, adding 0.57 percent.

In total 38 stocks reported gains, 71 took losses and 21 stayed put.

Turnover amounted to 75.8 million euros, up from Tuesday’s 71.5 million.

In Nicosia the Cyprus Stock Exchange general index edged up just 0.01 percent to 69.06 points.

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