The playing field was left wide open at the Athens Exchange on Wednesday for investors eyeing bigger gains in emerging markets – where Greece now belongs – following the departure of funds that invest exclusively in developed markets. As a result, the benchmark index showed notable gains at the end of Wednesday’s session despite starting the day with losses.
The ATHEX general index closed at 1,175.82 points, rebounding by 2.10 percent from Tuesday’s 3.85 loss that had sent the index at 1,151.66 points. The large-cap FTSE/ATHEX 25 expanded 1.89 percent to end at 390.61 points.
Marfin Investment Group, one of the 25 blue chips, was the most characteristic example of the stabilizing trend in the market, as it covered losses of 29.62 percent on Tuesday with gains of 28.16 percent on Wednesday, the highest among the FTSE-25 index.
Motor Oil added 25.78 percent and Terna Energy grew by 22.50 percent.
Hellenic Petroleum was the day’s biggest loser, shedding 5.54 percent.
In total 86 stocks registered gains, 52 sustained losses and 20 remained unchanged.
Turnover returned to normal levels on Wednesday at 167.5 million euros, after Tuesday’s figure of 960.2 million.