ECONOMY

Stocks decline on lack of any positive news

The absence of any concrete positive fiscal or corporate news in the last few days and the lack of any expectations for stock gains at this time of year led to fresh losses on the Athens bourse on Wednesday, with over 100 stocks ending in the red.

The Athens Exchange (ATHEX) general index closed at 819.54 points, sliding 2.24 percent from Tuesday’s 838.29 points.

The large-cap FTSE/ATHEX-25 index declined by 2.02 percent to 279.58 points. It was only the small-cap index that edged upward, by just 0.04 percent.

The mixed news on Hellenic Postbank has also taken its toll on the market, with banks suffering a 5.48 percent decline. National Bank gave up 5.09 percent, Alpha lost 4.93 percent and Piraeus 4.10 percent.

METKA fared even worse, declining by 5.28 percent, while Corinth Pipeworks contracted by 4.67 percent.

The only blue chip to register a rise was Folli Follie (up 0.63 percent), while Eurobank Properties ended unchanged.

In total, 23 stocks posted gains, 101 recorded losses and 21 remained unchanged.

Turnover amounted to 42.6 million euros, down from Tuesday’s 53.4 million.