ECONOMY

Investors far from impressed by Merkel visit

The local market was clearly not impressed by German Chancellor Angela Merkel?s visit to Athens on Tuesday, sending the Greek bourse?s benchmark index below the 800-point mark on Wednesday. It appears that the longer the waiting period for the next bailout tranche is extended, the more restless investors will become.

The Athens Exchange (ATHEX) general index ended at 799.42 points, declining by 3.64 percent from Tuesday?s 829.59 points. The blue chip FTSE/ATHEX 20 index crumbled by 4.35 percent to close at 289.71 points.

Al blue chips suffered losses, led by Duty Free Shops (down 10.56 percent), Cyprus Popular Bank (10 percent) and Eurobank (6.67 percent).

In total, 46 stocks registered gains, 106 declined and nine remained unchanged.

Turnover came to 56.8 million euros, down from Tuesday?s 61.5 million.