ECONOMY

Stocks dip as market awaits test results

The Greek bourse tested the waters above the benchmark’s 1,000-point mark on Wednesday for the first time in a week, and decided to stay below the psychologically key level with marginal losses for most indices, albeit with a satisfactory trading volume.

The Athens Exchange (ATHEX) general index ended at 993.73 points, shedding 0.14 percent from Tuesday’s closing of 995.10 points. The large-cap FTSE/ATHEX 25 index contracted 0.07 percent, ending at 324.42 points, although mid-caps expanded by 0.13 percent.

The temporary furor created by a Reuters report concerning leaks from Spain about the banks’ stress tests that showed three Greek lenders (out of the four tested) needing extra capital, subsided rather quickly as local lenders insist any new requirements will be small and manageable.

Blue chips presented a mixed picture, with National Bank adding 5.05 percent on the prospect of a 20 percent share sale in Finansbank, while Metka gave up 4.09 percent and Jumbo lost 4.05 percent.

In total 54 stocks registered gains, 68 reported losses and 14 remained unchanged.

Turnover amounted to 118.2 million euros, down from Tuesday’s 152.1 million.