ATHEX: Benchmark braves bank stock decline


Athinon Avenue experienced a mixed day on Wednesday following a number of sessions during which trends were clear, with the benchmark showing moderate gains as the banks index lost some ground. As estimates on an international growth slowdown come thick and fast and the Fed unexpectedly slashed its reference rates, bank stocks were unable to follow the rest of the ATHEX board in its recovery from the day’s lows.

The Athens Exchange (ATHEX) general index ended at 770.54 points, adding 0.55 percent to Tuesday’s 766.32 points. The large-cap FTSE 25 index expanded 0.40 percent to 1,952.41 points.

Τhe banks index declined 1.88 percent, as Piraeus dropped 3.24 percent, Alpha lost 2.97 percent, National fell 1.56 percent and Eurobank conceded 0.32 percent.

Piraeus Port Authority and GEK Terna outperformed, growing 6.62 percent and 5.03 percent respectively.

In total of 62 stocks recorded gains, 41 suffered losses and 19 closed unchanged.

Turnover amounted to 103.3 million euros, down from Tuesday’s 152.1 million.

In Nicosia the general index of the Cyprus Stock Exchange increased 0.59 percent to close at 64.90 points.