Sharp correction wipes out gains

After five consecutive sessions of gains, the Greek bourse’s main index declined yesterday, overturning the increases it had posted for most of the day. The Athens Exchange (ATHEX) general index dropped to 2,141.23 points yesterday, falling by 2.28 percent from Wednesday’s close, although during the day it had shown gains of up to 3.32 percent. The blue chip FTSE/ATHEX 20 index shrank by 2.60 percent to close at 1,104.98 points. Investors clearly decided to cash in on the last few sessions’ gains, forcing a sudden correction on stock prices. All but four blue chips posted losses yesterday, led by Hellenic Postbank (down 8.18 percent), National Bank (7.85 percent), Titan cement (6.60 percent) and ATEbank (6.58 percent). The biggest gains were for Alpha Bank (up 3.28 percent) and Hellaktor (2.51 percent). Turnover reached 346.1 million euros.

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