Market stems early losses, drops 1.39%

Despite anothe negative session, the Athens Stock Exchange managed to stay above 1,300 points and limit early losses that reached 3.22%.

Considering the selling pressures that developed abroad after Fitch Ratings downgraded the US debt, holding on above the 1,300-point threshold can be considered a success.

The main index ended at 1,305.85 points, dropping 1.39% on €129 million in turnover. Blue chips fell 1.35% and mid-caps 0.95%, while the bank index also lost 1.23%.

Hardest hit among blue chips were power company PPC, which lost over 3%, while GEK Terna, Motor Oil, Autohellas, Cenergy and Lamda Development all gave up more than 2%. Viohalco (1.4%), Quest (0.78%) and Helleniq Energy (0.37%) were the only blue chip gainers.