ECONOMY

ATHEX: Local stocks break six-day losing streak

athex-local-stocks-break-six-day-losing-streak

The Greek stock market managed to hang on to its morning gains and bring an end to its six-day losing streak yesterday, with the benchmark ending the session near its day high. However, low turnover and the general weakness in investor moves suggested that Wednesday’s rise was merely technical rather than anything substantial.

The Athens Exchange (ATHEX) general index ended at 646.16 points, adding 1.62 percent to Tuesday’s 635.84 points. The large-cap FTSE-25 index expanded 1.93 percent to 1,695.31 points.

The banks index underperformed, improving 0.57 percent. National advanced 3.02 percent and Eurobank rose 0.29 percent, while Alpha stayed put and Piraeus conceded 0.53 percent.

The FTSE-25 was boosted by gains for PPC (up 7.14 percent), Motor Oil (5.22 percent), Sarantis (3.53 percent) and Coca-Cola HBC (2.91 percent). The only two blue chips to head south were Terna Energy and Lamda Development, which both shed 0.66 percent.

In total 60 stocks went up, 26 took losses and 27 remained unchanged.

Turnover amounted to 35.5 million euros, down from Tuesday’s 45 million.

In Nicosia the Cyprus Stock Exchange general index increased 0.20 percent to close at 65.52 points.