ATHEX bucks the trend and ends higher

After Tuesday’s correction, the Greek bourse reverted to a northbound course on Wednesday, with the buying gathering pace as the day went along in anticipation of news from Thursday’s European Central Bank board meeting that may decide on a rate cut. Athens bucked the trend for losses observed on most international markets and its benchmark rose above the 1,250-point mark, albeit on relatively low turnover.

The Athens Exchange (ATHEX) general index closed at 1,251.05 points, adding 1.33 percent to Tuesday’s 1,234.62 points. The blue chip FTSE/ATHEX 25 expanded 1.23 percent to 402.86 points.

Seven out of the 25 large-caps closed at their peak for the day, which bodes well for Thursday’s session. Leading the blue chips was Jumbo, which added 6.06 percent, ahead of Mytilineos (up 3.64 percent), Metka (3.54 percent) and Marfin Investment Group (3.26 percent).

The biggest drop among the ATHEX 25 stocks was posted by Piraeus Bank, which gave up 1.63 percent.

In total 84 stocks reported gains, 50 registered losses and 13 remained unchanged.

Turnover reached 135.8 million euros, down from Tuesday’s 154 million.