ECONOMY

Bourse index holds onto 1,200-pt level

The bourse continued its downward course on Wednesday although the benchmark index managed to stay above the 1,200-point mark cleared in Monday’s session. Observers attribute the decline to the lack of progress in the government’s negotiations with its creditors.

The ATHEX general index closed at 1,211.77 points, shedding 0.75 percent from Tuesday’s 1,220.98 points. The large-cap FTSE/ATHEX 25 contracted 0.89 percent to end at 398.02 points, although the small-cap index posted marginal gains of 0.07 percent.

The leading blue chips were Marfin Investment Group (up 1.79 percent) and Corinth Pipeworks (1.52 percent), while Motor Oil gave up 4.13 percent, Jumbo dropped 2.54 percent and Piraeus Bank shrank 2.52 percent. National Bank closed without change.

Telecom company Forthnet outperformed, gaining 16.67 percent after Wind Hellas exercised its call option to acquire a 27.04 percent stake in the triple-play provider and take its total holdings in Forthnet to 32.3 percent.

In total 69 stocks recorded gains, 77 suffered losses and 21 remained unchanged.

Turnover amounted to 111.3 million euros, down from Tuesday’s 136.1 million.