Correction continues but losses are contained

Greek stocks suffered pressures from the general decline in European markets yesterday, but managed to contain their losses, with the Athens Stock Exchange (ATHEX) general index staying above the 4,800-point level. The index closed at 4,805.38 points, 44.88 points or 0.93 percent lower than on Tuesday, when it had closed at 4,850.26 points. The FTSE/ATHEX 20 blue chip index dropped by 1.21 percent to close at 2,569.01 points, while the FTSE/ATHEX Mid-40 lost 0.73 percent and the FTSE/ATHEX 80 small-cap index ended 0.70 percent lower. The FTSE/ATHEX International closed at 6,838.45 points, with losses of 1.12 percent. Turnover totaled -363.6 million. All but a few blue chips moved southward, led by Viohalco (down 4.83 percent), Intralot (2.37 percent), ATEbank (2.28 percent), Bank of Cyprus (2.02 percent), and National Bank (2.00 percent). In contrast, Hellenic Petroleum outperformed with a rise of 1.61 percent, followed by Coca-Cola HBC (up 1.16 percent) and Folli-Follie (1.03 percent). Most sectoral indices also suffered, with industrial products posting losses of 2.81 percent and raw materials dropping by 2.02 percent. The mass media index also fell, by 1.58 percent. Personal and household goods registered the greatest gains (up 1.22 percent), followed by food and drink (0.68 percent) and technology (0.66 percent).

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