China syndrome back but impact is slight

Blue chips, including all major banks, yesterday took the brunt of ripples spreading globally from China’s tripling of taxes on stock market transactions late on Tuesday. But the Greek market as a whole managed to recoup some of its initial losses, bringing them on par with other European bourses. The Athens Exchange (ATHEX) general index closed 0.47 percent lower at 4,914.90 points. The FTSE/ATHEX 20 blue chip index was down 0.73 percent at 2,632.55 points. The FTSE/ATHEX Mid-40 shed 0.59 percent, ending at 6,223.38 points, and the FTSE/ATHEX 80 small-cap index lost 0.37 percent, closing at 1,054.39 points. Metals group Viohalco led blue chip decliners, slumping 3.13 percent. Hellenic Technodomiki was 1.95 percent lower, Eurobank shed 1.86 percent, Postal Savings Bank continued sliding with a 1.78 percent loss, Hellenic Petroleum fell 1.58 percent, Alpha Bank descended 1.36 percent and National Bank was down 1.32 percent. Bank of Cyprus, Emporiki, Titan, Public Power Corporation and Piraeus Bank also headed south. By contrast, Folli-Follie climbed 2.90 percent, Coca-Cola HBC gained 1.79 percent, OTE telecom advanced 1.30 percent and OPAP added 0.58 percent. Turnover totaled -442.87 million, including -84.25 million in block trades.