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Small correction after two days of strong stock gains

Stocks in the local bourse staged a predictable correction on Thursday as investors chose to cash in on their gains after two days of major growth.

The Athens Exchange (ATHEX) general index closed at 1,293.97 points, shedding 0.72 percent from Wednesday’s 1,303.35 points. The large-cap FTSE/ATHEX 25 contracted by 0.70 percent to 418.76 points, while the mid-cap index expanded by 0.24 percent.

OPAP gaming company stood out among blue chips growing by 5.56 percent, followed by Hellenic Exchanges that added 3.14 percent.

Titan Cement fell 3.81 percent and Piraeus Bank declined by 3.03 percent.

In total, 63 stocks reported gains, 77 sustained losses and 20 stayed put.

Turnover amounted to 105.1 million euros, down from Wednesday’s 130.9 million. It may go further down on Friday, the last day before a long weekend which traditionally drives trading volume to lower levels, despite the prospect of the MSCI index rebalancing to take place after Friday’s session.

ekathimerini.com , Thursday February 27, 2014 (19:11)  
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