ECONOMY

ATHEX remains ‘developed’ but slide continues

The Greek bourse may have managed to retain its position among the world’s so-called developed stock markets yesterday, but that didn’t prevent it from being hit with fresh losses on Wednesday, as turnover continued to shrink.

The Athens Exchange (ATHEX) general index closed at 837.82 points, its lowest point in four months, shedding 2.16 percent from Tuesday’s 856.29 points.

The large-cap FTSE/ATHEX-25 declined by 2.04 percent, ending at 269.57 points. Nevertheless the small-cap index added 0.98 percent.

ATHEX retained on Wednesday its “developed” status according to the FTSE provisional classification – avoiding a relegation to “emerging” – but it remains on the watch list, as it has done over the last few years, ahead of the definitive assessment in September.

Jumbo and Viohalco outperformed the blue chips with gains of 5.37 percent and 5.10 respectively. Eurobank gave up more ground, sliding 11.90 percent, while Hellenic Petroleum slumped 7.23 percent. OPAP continued to rise, adding 0.64 percent.

In total 46 stocks posted gains, 92 sustained losses and 18 remained unchanged.

Turnover dipped further, to 38.7 million euros from Tuesday’s 46.7 million.