ECONOMY

Local bourse drops below 1,400 points

The Greek stock market gave up more ground on Wednesday as the main index slid below the 1,400-point mark, edging ever closer to the year?s lowest point to date. It is clear that without a clear push from the government, the bourse will continue to fall in the coming weeks.

The Athens Exchange (ATHEX) general index ended at 1,387.59 points, declining by 1.79 percent from Tuesday?s close at 1,412.84 points. The blue chip FTSE/ATHEX 20 index dropped by 2.11 percent to end at 623.50 points. Yet again the small-cap FTSE/ATHEX 80 index outperformed, posting marginal losses of just 0.02 percent.

ATEbank ended with gains of 4.55 percent, Jumbo added 1.29 percent and Titan cement grew by 0.06 percent, but all other blue chips headed south. They were led by Viohalco (down 3.90 percent), Bank of Cyprus (3.73 percent) and Alpha Bank (2.92 percent).

In total, 55 stocks moved up, 83 went down and 49 remained unchanged. Babis Vovos posted the biggest rise for the second day in succession, with gains of 19.12 percent, while Axon Holdings led the losers with a 19.39 percent decline.

Turnover came to 86.3 million euros, up from 72 million on Tuesday.