ECONOMY

Downbeat Athens bourse posts drop in prices

Traders’ low expectations regarding this week’s Euro Working Group meetings were reflected in the bourse board in Athens on Wednesday, with stocks heading south and trading volume coming in at the third lowest this year. Increased speculation in the international media about the possibility of a Greek default and/or eurozone exit has contributed to the downbeat mood among investors.

The Athens Exchange (ATHEX) general index ended at 767.92 points, shedding 1.23 percent from Tuesday’s 777.47 points. The large-cap FTSE/ATHEX 25 index contracted 1.36 percent to close at 229.86 points, although mid-caps expanded 0.29 percent.

Eurobank was the worst off among blue chips with a 6.14 percent decline, followed by Ellaktor (down 5.71 percent) and Jumbo (4.32 percent). Titan Cement (up 2.09 percent) and Grivalia Properties (1.37 percent) led the few gainers.

In total 44 stocks recorded gains, 54 took losses and 17 remained unchanged.

Turnover amounted to 45.7 million euros, up from Tuesday’s 43.1 million.

The presence of foreigner investors in local trade increased in March to 49.2 percent from 48.4 percent in February, Hellenic Exchanges announced on WEdnesday.