ATHEX: EU scare ends stocks’ rising streak

After six sessions of gains in a row for the benchmark, which took it to a 13-year high, the Greek stock market endured moderate losses on Wednesday, in spite of the spectacular entry of Athens International Airport. The news about the European Commission investigation of monopolistic practices by PPC appeared to scare traders, though the utility stresses that this concerns the previous decade and a market that no longer exists.

The Athens Exchange (ATHEX) general index closed at 1,397.14 points, shedding 0.47% from Tuesday’s 1,403.76 points. The large-cap FTSE-25 index contracted 0.77%, ending at 3,401.51 points, though mid-caps expanded 0.39%.

The banks index dropped 1.61%, as Alpha gave up 1.96%, National eased 1.74%, Piraeus conceded 1.50% and Eurobank parted with 1.26%. Sarantis added 5.57% and Motor Oil rose 3.45%, while Public Power Corporation sank 3.84% and ElvalHalcor fell 3.45%.

In total 43 stocks collected gains, 70 showed losses and 15 remained unchanged.

Turnover amounted to 228.9 million euros, up from Tuesday’s €173.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.30% to 139.56 points.