ATHEX: Bourse stems outflow of stock cash

The Greek bourse appears to have stemmed the outflow of funds seen at the start of the week and is preparing for its next move upward, after another session – on Wednesday – where blue chips rebounded, with the exception of banks. Reports by foreign firms, such as that by Jefferies, indicate that there is more to come from where the January and February momentum came from.

The Athens Exchange (ATHEX) General Index closed at 1,076.36 points, shedding 0.22% from Tuesday’s 1,078.96 points. The large-cap FTSE-25 index contracted 0.28% to end up at 2,623.13 points.

The banks index dropped 2.72%, as National parted with 4.04%, Alpha fell 3.11%, Piraeus conceded 3.05% and Eurobank shed 1.22%. Heading in the other direction were Jumbo (up 4.90%), Public Power Corporation (4.38%), Mytilineos (1.49%) and Motor Oil (1.08%).

In total 35 stocks reported gains, 71 registered losses and 23 remained unchanged.

Turnover amounted to 120.6 million euros, a drop from Tuesday’s €132.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.41% to close at 110.16 points.