STOCKS

ATHEX: Stock market outperforms global peers

athex-stock-market-outperforms-global-peers

The Greek bourse outperformed most of its eurozone peers for the second day in succession on Wednesday, even if it did have to settle for losses for the majority of stocks. 

As pressure grows on global markets from soaring energy costs, the Athens Exchange appears more protected from such influences given the relatively low share of energy-intensive industries in the country’s economy.

The ATHEX general index closed at 876.37 points, shedding 0.65% from Tuesday’s 882.10 points. The large-cap FTSE 25 index contracted 0.69% to end at 2,119.05 points.

The banks index shrank 1.41%, as National dropped 2.57%, Alpha parted with 1.67%, Piraeus shied 1.62% and Eurobank gave up 0.24%.

Losers also included Viohalco (down 2.27%) and Terna Energy 2.24%. Containing the drop of the main index were OTE telecom (up 1.14%) and Motor Oil (0.87%).

In total 41 stocks posted gains, 67 counted losses and 17 remained unchanged.

Turnover amounted to 65 million euros, up from Tuesday’s €44.5 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.36%, ending at 66.72 points.