Correction puts end to rising streak
After seven consecutive sessions of growth, the Greek stock market posted a correction on Thursday, but the fact that the decline picked up speed over the course of the day suggests it may continue on Friday.
Still, the Fed?s move on Thursday evening to boost liquidity in the US could see euphoria rekindled in European markets, too.
The Athens Exchange (ATHEX) general index gave up 3.73 percent on Thursday to end at 741.76 points, from Wednesday?s 770.53 points. The blue chip FTSE/ATHEX 20 index contracted by 4.19 percent to close at 276.52 points.
Cypriot bank stocks suffered the most, as Cyprus Popular Bank shrank by 13.04 percent and Bank of Cyprus dropped by 12.46 percent. Eurobank Ergasias, however, added 5.71 percent as the market is awaiting Credit Agricole?s decision for Emporiki.
In total, 54 stocks secured gains, 89 suffered losses and 19 remained unchanged.
Turnover amounted to 106 million euros, down from Wednesday?s 127.2 million.
