ATHEX: Local bourse is not spared profit taking

The profit taking originally expected on Tuesday eventually hit the Greek stock market on Wednesday, on the pretext of geopolitical concerns following the explosion in Poland on Tuesday, which it was initially feared could provoke an escalation of the conflict in Eastern Europe. Traders reaped a significant share of recent profits at Athinon Avenue, as the high turnover of the day also reveals.

The Athens Exchange (ATHEX) general index closed at 887.09 points, shedding 1.86% from Tuesday’s 903.87 points. The large-cap FTSE-25 index contracted 2%, to end at 2,150.32 points, with all blue chips heading south.

The banks index dropped 2.48%, as Piraeus slumped 4.90%, Eurobank sank 3.03%, Alpha parted with 2.08% and National fell 1.04%.

Public Power Corporation was down 3.90%, Sarantis conceded 3.21%, Lamda Development gave up 2.84% and OTE telecom lost 2.82%.

In total 20 stocks obtained gains, 83 registered losses and 15 remained unchanged.

Turnover came to 93.8 million euros, up from Tuesday’s €73.6 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.33% to close at 77.05 points.