BUSINESS

ATHEX: OTE, banks weigh on benchmark

TAGS: Stocks

The decline of OTE telecom and profit taking in bank stocks saw the benchmark of the Greek bourse ease somewhat on Wednesday from Tuesday’s nine-month highs, although the majority of stocks remained in the black for one more session. Reports on election handouts by the government did not help blue chips or bond prices, which also slipped from recent highs.

The Athens Exchange (ATHEX) general index ended at 773.44 points, shedding 0.30 percent from Tuesday’s 775.78 points. The large-cap FTSE-25 index contracted 0.26 percent to 1,988.76 points, while the small-cap index expanded 0.90 percent.

The banks index decreased 0.91 percent, as Piraeus fell 1.91 percent, Eurobank lost 1.54 percent and Alpha shrank 0.75 percent. National stayed put. Grivalia Properties parted with 2.39 percent and OTE gave up 1.92 percent, as Jumbo earned 2.93 percent and ADMIE Holdings climbed 1.69 percent.

In total 52 stocks recorded gains, 47 sustained losses and 29 remained unchanged.

Turnover amounted to 58.3 million euros, down from Tuesday’s 72 million.

In Nicosia the Cyprus Stock Exchange declined 0.42 percent to close at 70.64 points.

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