ECONOMY

ATHEX: Impasse in talks brings more losses

The Greek stock market’s benchmark returned to a southbound course on Wednesday, following another session of low trading volume, due to the lack of progress in negotiations between Greece and its creditors, while the sense that the entire market has been holding its collective breath for months now is palpable.

The Athens Exchange (ATHEX) closed at 761.05 points, shedding 1.08 percent from Tuesday’s 769.37 points. The large-cap FTSE/ATHEX 25 index contracted 1.28 percent to close at 227.53 points, though small-caps headed in the opposite direction, rising 1.48 percent.

Banks took a beating again – as the bourse closed before the extension of the emergency liquidity assistance (ELA) limit was announced – with their index shrinking 5.50 percent. Eurobank declined 6.82 percent, National fell 5.61 percent, Alpha dropped 5 percent and Piraeus lost 4.56 percent.

The day’s biggest earners among blue chips were Motor Oil (up 3.58 percent) and Grivalia Properties (2.88 percent).

In total 40 stocks enjoyed gains, 61 suffered losses and 21 stayed unchanged.

Turnover amounted to 63.9 million euros, against Tuesday’s 66.8 million.