BUSINESS

ATHEX: Market picks up after 5-day losing streak

TAGS: Stocks

The benchmark of the Athens Exchange (ATHEX) ended the day just shy of the 600-point mark as the market reacted to a five-day losing streak, the worst in almost three months. However, the drop in turnover – by over 40 percent from Tuesday’s major price slide – suggests that Wednesday’s session was a brief respite for the market rather than the beginning of a genuine rebound, while the decline posted by the mid-cap index saw losers outnumbering gainers by the end of the session.

The ATHEX general index ended at 599.95 points, adding 1.16 percent to Tuesday’s 593.05 points. The large-cap FTSE-25 index expanded 1.45 percent to 1,571 points, while the mid-cap index contracted 0.687 percent.

The banks index recovered 1.67 percent, with Alpha advancing 3.18 percent, Piraeus growing 2.13 percent and National improving 0.70 percent, as Eurobank slipped 0.58 percent. OPAP gaming company climbed 3.60 percent, OTE telecom rose 2.96 percent and Jumbo increased 2.48 percent.

In total 42 stocks registered gains, 44 took losses and 25 remained unchanged.

Turnover amounted to 29.6 million euros, down from Tuesday’s 49.1 million.

In Nicosia the Cyprus Stock Exchange general index eased 0.20 percent to close at 66.41 points.

Online