ECONOMY

Stocks slide in particularly thin trade

Investors were holding their collective breath on Wednesday ahead of the Euro Working Group teleconference, leading to some losses for the Greek stock market, which recorded its fourth-lowest daily turnover so far this year, and the lowest since the January elections. Foreign fund managers say they are particularly reserved due to the contradictory statements by Greek government officials.

The Athens Exchange (ATHEX) general index closed at 765.37 points, shedding 1.30 percent from Tuesday’s 775.46 points. The large-cap FTSE/ATHEX 25 index contracted 1.15 percent to end at 227.36 points.

Eurobank begged to differ with a 5.71 percent hike, apparently thanks to continued interest from Fairfax. This has kept the banks index afloat, as it gave up just 0.04 percent. Hellenic Exchanges expanded 3.85 percent.

The biggest losses were for Piraeus Bank (down 5.01 percent), Jumbo (4.75 percent), Terna Energy (4.57 percent) and Grivalia Properties (4.47 percent). OTE telecom dropped 3.03 percent to complete five consecutive southbound sessions.

In total 49 stocks enjoyed gains, 60 suffered losses and 15 remained unchanged.

Turnover amounted to 55.3 million euros, less than half Tuesday’s 124.4 million.