ECONOMY

Most stocks in Greek bourse have gone into hibernation

The absence of most foreign portfolios – who seem to have already taken off for the holidays – from the Greek bourse on Wednesday brought trading volume down to just over 50 million euros during the session, with the majority of stocks ending up in the red.

The ATHEX general index closed at 1,196.98 points, down 0.31 percent from Tuesday’s 1,200.67 points. The large-cap FTSE/ATHEX 25 contracted 0.38 percent to end at 392.38 points, although the small-cap index outperformed with gains of 1.37 percent.

With two-thirds of the day’s turnover concentrated on just six blue chips, most local stocks appear to have entered hibernation. A notable exception was Inform P. Lykos, which climbed 13.84 percent on reports it is set to be delisted from the Greek bourse.

Motor Oil outperformed among blue chips with a rise of 3.37 percent, followed by Terna Energy, which climbed 0.85 percent. Titan Cement declined by 1.93 percent, the OPAP gaming company fell 1.31 percent and Ellaktor gave up 1.21 percent.

In total 55 stocks posted gains, 90 sustained losses and 17 ended the day unchanged.

Turnover amounted to 55.3 million euros, down from Tuesday’s 83.3 million.