ECONOMY

Investors opt for waiting strategy

Investors followed a wait-and-see policy in the Greek bourse on Wednesday, with the market treading cautiously ahead of announcements for privatizations and of corporate results for 2010, while daily turnover slid ever lower.

The Athens Exchange (ATHEX) general index closed at 1,618.98 points, declining by 0.10 percent from Tuesday?s closing at 1,620.59 points. The blue chip FTSE/ATHEX 20 index dropped by 0.18 percent to end at 753.83 points, although the small-cap FTSE/ATHEX 80 index expanded by 0.73 percent as rising stocks outnumbered the declining ones.

Marfin Investment Group led blue chips with gains of 3.53 percent, ahead of Public Power Corp (up 1.67 percent), Bank of Cyprus (1.27 percent) and Titan cement (1.21 percent).

ATEbank had the biggest losses (down 3.75 percent), followed by Ellaktor (3.05 percent) and Viohalco (2.46 percent).

In total 85 stocks moved up, 69 went down and 59 remained unchanged. Epilektos led those rising with an 18.60 percent growth, while Ideal posted the biggest loss, amounting to 9.20 percent.

Turnover came to just 74.2 million euros, down from 101 million on Tuesday.