ATHEX: Early gains wiped out at Athinon Avenue

Wednesday’s session at Athinon Avenue contained a whiff of a bull trap, in that it started with promising gains but ended with small losses that brought an end to the benchmark’s five-day rising streak. The prospect of 12 more lockdown days and the rebound of bond yields wiped out the ascent observed at Athinon Avenue in the morning, although the stocks of Piraeus and National proved resilient enough to buoy up the banks index.

The Athens Exchange (ATHEX) general index ended at 815.10 points, shedding 0.24% from Tuesday’s 817.03 points. The large-cap FTSE 25 index contracted 0.20% to close at 1,960.97 points.

The banks index was up 0.22%, as Piraeus advanced 3.16% and National grew 2.10%, while Eurobank decreased 1.45%. Alpha stayed put.

Lamda Development lost 2.18%, Aegean Airlines dropped 1.94% and Public Power Corporation gave up 1.67%, but Ellaktor climbed 1.28%.

In total 49 stocks recorded gains, 54 registered losses and 24 remained unchanged.

Turnover amounted to 79.4 million euros, up from Tuesday’s €77.4 million.

In Nicosia, the general index of the Cyprus Stock Exchange closed without a change at 58.42 points.