ECONOMY

ATHEX: Bourse ends rising streak, falling 1 pct

The Athens bourse’s recent spurt of growth came to an end on Wednesday. The benchmark closed at its lowest point of the session, with losses of 1 percent, as investors chose to cash in some of their gains from the previous five sessions of growth. The declines on a number of other European markets also played a role.

The Athens Exchange (ATHEX) general index closed at 797.99 points, compared with Tuesday’s 806.01 points. The large-cap FTSE/ATHEX 25 index contracted 1.25 percent to close at 239 points, but the mid-cap index added 0.33 percent.

Thursday’s last session of the week – as the bourse will be closed on May Day – and of the month will show whether Wednesday’s drop was a mere correction after a week of gains or the start of a fresh selling spree.

Construction stocks saw Tuesday’s gains evaporate, as Ellaktor gave up 7.14 percent and GEK Terna fell 5.81 percent. Piraeus Bank dropped 5 percent, while Marfin Investment Group fared the worst among blue chips, losing 8.81 percent. Terna Energy outperformed, rising 3.97 percent.

In total 55 stocks recorded growth, 61 endured losses and 14 remained unchanged.

Turnover amounted to 81 million euros, down from Tuesday’s 99.5 million.