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And on the 7th day, the index rose again

OPAP led the local stock market’s benchmark to another day of gains on Wednesday – the seventh in a row – with buyers making their presence felt mainly during the closing auctions while turnover remained high. However declining stocks outnumbered the gainers.

The Athens Exchange (ATHEX) general index closed at 1,220.16 points, adding 1.04 percent to Tuesday’s 1,207.55 points. The blue chip FTSE/ATHEX 25 expanded 1.20 percent to 393.06 points, but the small-cap index contracted 0.77 percent.

Those seven consecutive days of growth have brought gains of 14.4 percent for the benchmark, but observers say that the market has run out of the steam generated by the relief at the election results.

In the wake of its higher-than-expected first-quarter profits, gaming monopoly OPAP enjoyed a 7.89 percent rise, the highest among blue chips. EYDAP followed with gains of 5.66 percent, as state sell-off fund TAIPED is considering alternative ways to promote the water utility’s privatization. Coca-Cola HBC gave up 1.75 percent.

In total 52 stocks went up, 62 headed south and 18 remained unchanged.

Turnover came to 180.6 million euros, down from Tuesday’s 188.4 million.

ekathimerini.com , Wednesday May 28, 2014 (19:47)  
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