ATHEX: Another dive for bourse benchmark

The impact of inflation and rising interest rates on first-half corporate results of listed companies continues to put pressure on stock prices at Athinon Avenue, as the benchmark of the Greek bourse suffered fresh losses on Wednesday. The main index required the late support of some buyers and Coca-Cola HBC’s index-heavy blue chip to cling on to the 1,200-point level, with a ratio of one rising stock for every two losers upon closing.

The Athens Exchange (ATHEX) general index closed at 1,204.11 points, shedding 1.27% from Tuesday’s 1,219.57 points. The large-cap FTSE-25 index contracted 1.65% to end at 2,930.83 points.

The banks index dropped 3.22%, on Eurobank sinking 4.15%, Alpha giving up 4.03%, National parting with 2.11% and Piraeus conceding 2%.

Aegean Airlines lost 3.46%, Public Power Corporation fell 3.06% and Terna Energy was down 3.02%, but Sarantis expanded 3.45% and CCHBC advanced 1.40%.

In total 32 stocks posted gains, 64 registered losses and 14 remained unchanged. Turnover amounted to 76 million euros, up from Tuesday’s €74.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.66% to 130.26 points.