ECONOMY

Stocks take a dive after brief rally

The rising trend set by Greek stocks on Tuesday proved very short-lived, as Wednesday saw another southbound session on the local bourse, with a number of blue chips sustaining considerable losses after the brief boom.

The Athens Exchange (ATHEX) general index ended at 1,289.99 points, shrinking by 1.49 percent from Tuesday?s close at 1,309.46 points. The blue chip FTSE/ATHEX 20 index dropped by 1.52 percent to end at 578.36 points.

Among blue chips the biggest losses were posted by Bank of Cyprus (down 5.65 percent), OPAP (4.31 percent) and Coca-Cola HBC (3.31 percent). On the rise were the blue chips of Public Power Corporation (up 3.15 percent), Ellaktor (1.94 percent) and OTE telecom (1.13 percent).

In total, 55 stocks moved up, 76 went down and 47 remained unchanged. Maritime Company of Lesvos registered the biggest rise with gains of 12 percent, while Attica Publications led the losers, shedding 14.81 percent.

Turnover came to 127 million euros, down from 160.8 million euros in the previous session. Some 94 percent of Wednesday?s turnover concerned blue chips.