ATHEX: Stock market offsets losses by end of trade

The statements by European Central Bank chief Christine Lagarde about an upcoming easing of interest rates offset the adverse impact from the significant decline late at Wall Street on Tuesday, so the benchmark of the Greek stock market recorded only marginal losses on Wednesday. The morning losses were all but covered and the mid-cap index actually closed with gains, on a day of increased turnover.

The Athens Exchange (ATHEX) general index closed at 1,331.34 points, shedding 0.08% from Tuesday’s 1,332.47 points. The large-cap FTSE-25 index also contracted 0.08%, ending at 3,231.70 points, but mid-caps expanded 0.13%.

The banks index conceded 0.20%, as Alpha gave up 1.15%, Piraeus dropped 0.73% and Eurobank parted with 0.32%, while National advanced 0.74%. Viohalco sank 3.34%, but Ellaktor rebounded 3.66% and Titan Cement improved 2.54%.

In total 37 stocks secured gains, 61 recorded losses and 26 remained unchanged.

Turnover amounted to 128.7 million euros, up from Tuesday’s €86.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.20% to close at 135.28 points.