Stock gains evaporate after Draghi speech

The 2 percent growth that the Athens benchmark was showing at at 3 p.m. vanished as soon as European Central Bank Governor Mario Draghi finished his speech, after 4 p.m., inflicting losses on the majority of stocks on a day that had seemed so full of promise at the start.

The Athens Exchange (ATHEX) general index ended at 1,058.65 points on Thursday, a whisker (0.01 percent) below Wednesday’s 1,058.78 points. The large-cap FTSE/ATHEX 25 index slid 0.28 percent, closing at 344.70 points, while small-caps added 0.84 percent.

Non-banking blue chips excelled, with Titan Cement rising 5.58 percent, Jumbo adding 5.30 percent and OPAP up 4.17 percent. OTE telecom fell 3.88 percent and National Bank lost 2.99 percent. PPC declined for the ninth day in a row, this time by 2.21 percent.

In total 58 stocks went up, 67 felled and 22 were unchanged.

Turnover reached 135.4 million euros, from 124.3 million on Wednesday.

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