Market rebounds from day’s lows but still down

The Greek stock market proved more resilient to selling pressures than other European markets yesterday, with investors rekindling their interest at the day’s lows. The Athens Exchange (ATHEX) general index was 0.15 percent down, closing at 4,963.97 points, after falling as much as 1.17 percent during the session. The FTSE/ATHEX 20 blue chip index nudged 0.02 percent lower, the FTSE/ATHEX Mid-40 shed 0.40 percent and the FTSE/ATHEX 80 small-cap index edged 0.01 percent higher. The FTSE/ATHEX international index fell 0.09 percent. Among blue chips, Alpha Bank climbed 1.09 percent, Marfin Popular Bank added 1.04 percent, OTE gained 0.88 percent, Titan was 0.84 percent higher and National Bank was up 0.51 percent. Cosmote also headed north. By contrast, Viohalco slumped 2.18 percent, Hellenic Petroleum dropped 2.01 percent, Postal Savings Bank was 1.64 percent leaner and ATEbank shed 1.52 percent. Motor Oil, banks Piraeus, Eurobank and Cyprus, Public Power Corporation, Coca-Cola HBC and OPAP also ended in negative territory. Hellenic Technodomiki was unchanged. Aegean Airlines outperformed on its debut, adding -22.37 percent to close at 9.30. Turnover shot up to -1.04 million, of which -586.15 million in block trades, in particular the Postal Savings Bank’s 20 percent placement on Tuesday.

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