Stocks gain slightly, but banks drop

Stocks gain slightly, but banks drop

The Athens Stock Exchange posted mild gains on low turnover Wednesday, but underperformed European markets, which bounced bank after the Italian government watered down a plan for a windfall tax on banks.

The ASE general index closed at 1,317.18 points, up 0.46%, on turnover of €65.65 million. Blue chips gained 0.38% and mid-caps 0.15%, while banks declined 0.26%.

Cosmetics firm Sarantis outperformed all blue chips, rising 5.42%, followed by refiner Motor Oil (2.68%) and construction group GEK Terna (2.02%). Helleniq Energy, Quest and OPAP advanced more than 1%, while Alpha Bank and construction group Ellaktor dropped more than 1%.

MSCI’s update of its Greek indices is awaited Thursday. Morgan Stanley expects Piraeus Bank to be added to the MSCI Standard index. 

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