BUSINESS

ATHEX: Early gains vanish by end of session

TAGS: Stocks

A statement of support by Bank of Greece Governor Yannis Stournaras got Greek stocks off to a positive start on Wednesday, but a Moody’s report stressing how much of a challenge bad loans pose to Greek banks soured the mood again, leading the benchmark back into the red at the close.

The Athens Exchange (ATHEX) general index ended at 625.83 points, shedding 0.05 percent from Tuesday’s 626.17 points. The large-cap FTSE-25 index contracted 0.29 percent to 1,639.40 points.

The banks index continued its constant slide this month, falling 1.95 percent on the day, even though it was up almost 8 percent at one point during the session. National slumped 3.90 percent, Piraeus conceded 2.40 percent, Alpha lost 1.45 percent and Eurobank gave up 0.76 percent.

Jumbo soared 7.34 percent, Motor Oil jumped 4.21 percent and GEK Terna improved 2.94 percent, as Public Power Corporation tumbled 4.84 percent and Hellenic Petroleum dropped 3.69 percent.

In total 41 stocks posted gains, 43 registered losses and 33 stayed put.

Turnover came to 50.5 million euros, down from Tuesday’s 57.9 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.17 percent to close at 69.14 percent.

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