Bourse in need of direction

Greek stocks continued to decline on Thursday, with the market having run out of steam completely and sellers running riot. The recent low turnover is typical of a bourse without direction and in desperate need of corporate news that could lift it.

The Athens Exchange (ATHEX) general index ended the day at 734.77 points, giving up 2.37 percent from Wednesday?s closing level of 752.64 points. The blue chip FTSE/ATHEX 20 index lost 2.66 percent to close at 284.76 points.

All but two blue chips contracted, with Alpha Bank shedding 9.25 percent and Public Power Corp falling 8.56 percent. Marfin Popular Bank gained 2.15 percent.

In total, 37 stocks registered gains, 100 posted losses and 22 remained unchanged.

Turnover amounted to 41.6 million euros, down from 47.3 million on Wednesday.

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