European bourses cast a shadow on Athens

After three straight winning sessions, Greek stocks stayed in negative territory throughout yesterday’s trading, affected by a negative mood on European markets. Mid-caps, however, bucked the trend. The Athens Stock Exchange general index was 0.49 percent lower at 3,934.21 points. The blue chip FTSE/Athex 20 index declined 0.44 percent, the FTSE/Athex Mid 40 added 0.64 percent and the FTSE/Athex Small-Cap 80 fell 0.11 percent. Most sectoral indices headed south, led by petroleum and gas, which shed 2.42 percent. Travel & leisure was 1.78 percent lower. In contrast, health led winners with a 1.68 percent gain. Banks edged up 0.11 percent. Piraeus Bank led winning blue chips by adding 1.27 percent; OTE advanced 0.85 percent; Eurobank was 0.41 percent higher and Emporiki 0.26 percent. The two oil refiners, Hellenic Petroleum and Motor Oil, tumbled 2.55 percent and 2.36 percent, respectively; OPAP slumped 2.34 percent and Intracom dropped 1.21 percent. Turnover totaled 255.9 million euros. Analysts said the fact that the general index closed at the day’s high indicated that it has the potential of moving higher, barring negative imported news. This is expected to become clearer in the next few sessions and would largely depend on yesterday’s closing on Wall Street.