ATHEX: Stocks finally decline after a long rally

ATHEX: Stocks finally decline after a long rally

The long-anticipated profit-taking after the last few weeks’ major gains at the Greek stock market finally materialized on Wednesday, which came off Monday’s eight-year high with a significant decline. The benchmark only narrowly stayed above the 1,100-point mark. 

Banks led the drop, which saw as many as 100 stocks head lower on the day.

The Athens Exchange (ATHEX) general index closed at 1,101.30 points, shedding 1.82% from Tuesday’s 1,121.74 points. The large-cap FTSE-25 index contracted 2.03% to end at 2,678.80 points.

The banks index slumped 4.19%, as Eurobank sank 4.74%, Alpha parted with 4.37%, Piraeus gave up 4.09% and National decreased 3.33%.

Motor Oil leaked 3.45%, ElvalHalcor descended 2.59% and GEK Terna conceded 2.58%, while Coca-Cola HBC advanced 0.84% and Quest Holdings earned 0.58%.

In total 12 stocks managed to post gains, 100 took losses and 17 remained unchanged.

Turnover amounted to €114.9 million euros, up from Tuesday’s €111.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.18% to close at 114.70 points. 

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