ATHEX: Traders cash in gains after winning run
Greek stocks’ winning streak came to an end on Wednesday after five days of upward momentum, as traders chose to cash in their gains that had amounted to 7.82 percent for the benchmark and 20.42 percent for the bank index. The main index ended at the day’s low, after JP Morgan said it may now be too late to seek capital gains in buying Greek bank stocks.
The Athens Exchange (ATHEX) general index closed at 619.06 points, shedding 1.69 percent from Tuesday’s 629.29 points. The large-cap FTSE 25 index contracted 1.98 percent to end at 173.60 points, while small-caps inched up 0.17 percent.
The banks index dropped 2.54 percent, with Piraeus Bank losing 3.83 percent and Alpha falling 2.61 percent, but Public Power Corporation fared worse, giving up 5.67 percent, and Piraeus Port Authority sank 3.31 percent. Among the four blue chips that headed north, Viohalco added 2.11 percent and Terna Energy improved 1.40 percent.
In total 42 stocks registered gains, 48 reported losses and 17 remained unchanged.
Turnover came to 91.6 million euros, less than half Tuesday’s 196.2 million.
In Nicosia the general index of the Cyprus Stock Exchange declined 0.49 percent to close at 66.58 points.