ECONOMY

ATHEX: Marginal rise for benchmark after late sales

athex-marginal-rise-for-benchmark-after-late-sales

The gains recorded by Greek stocks during Wednesday’s session were all but offset by the end of trading due to a late selling spree that can be partly explained by traders’ shift from stocks to bonds after Tuesday’s issue of a five-year note and the continued decline of bond yields.

The Athens Exchange (ATHEX) general index closed at 635.67 points, adding just 0.03 percent to Tuesday’s 635.51 points. The large-cap FTSE-25 index contracted 0.10 percent to 1,687.74 points, while mid-caps expanded 0.12 percent.

The banks index improved 0.22 percent thanks to Eurobank’s gains of 2.31 percent, as Alpha lost 0.98 percent, Piraeus declined 0.86 percent and National gave up 0.26 percent. Grivalia Properties increased 2.09 percent, Sarantis slumped 3.24 percent and Public Power Corporation shrank 2.37 percent.

In total 45 stocks registered gains, 39 sustained losses and 35 remained unchanged.

Turnover amounted to 32 million euros, just below Tuesday’s 32.2 million.

In Nicosia the Cyprus Stock Exchange general index advanced 0.16 percent to close at 61.94 points.