ATHEX: Positive vibes contain early losses

In spite of the initial negative reaction to Prime Minister Alexis Tsipras’s strong words about the creditors, the losses of the Greek stock market benchmark were contained to less than 2 percent on Wednesday in a sign that optimism and relief remained at the back of investors’ minds.

The Athens Exchange (ATHEX) general index closed at 780.90 points, shedding 1.77 percent from Tuesday’s 794.98 points. The large-cap FTSE/ATHEX 25 index declined 1.97 percent to close at 235.89 points.

Banks lost 6.56 percent as Standard & Poor’s said in a report that Greek lenders could aim at selling their subsidiaries in neighboring countries. Piraeus Bank dropped 10.12 percent, Eurobank gave up 6.80 percent and Alpha Bank lost 6.23 percent. Terna Energy advanced 3.01 percent.

In total 37 stocks posted gains, 57 took losses and 16 closed unchanged.

Turnover amounted to 96.4 million euros, down from Tuesday’s 130.9 million.