BUSINESS

ATHEX: Stock drop contained in auctions

TAGS: Stocks

Greek stocks recovered from a steep decline during Wednesday’s session to end up with minor losses in the closing auctions. Bank stock buyers returned to help the sector’s index come back from mid-session lows as the PPC slump continued to affect the entire market.

The Athens Exchange (ATHEX) general index ended at 772.66 points, shedding 0.48 percent from Tuesday’s 776.40 points. The large-cap FTSE-25 index contracted 0.19 percent to 2,001.48 points and the mid-cap index lost 1.81 percent.

The banks index fell 0.45 percent, with Piraeus giving up 2.37 percent, Alpha conceding 0.69 percent and Eurobank slipping 0.34 percent, while National advanced 0.79 percent.

Public Power Corporation on Wednesday added losses of 17.93 percent to its 11.75 percent plunge the day before following the publication of its 2018 financial results late on Tuesday. Motor Oil (up 2.03 percent) and Jumbo (2.02 percent) saved some face for the blue chip index, as Ellaktor decreased 2.63 percent and Fourlis shrank 2.35 percent.

In total 39 stocks reported gains, 66 sustained losses and 30 remained unchanged.

Turnover amounted to 64 million euros, up from Tuesday’s 50.7 million.

In Nicosia the Cyprus Stock Exchange edged up 0.07 percent to close at 70.39 points

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