ATHEX: Benchmark loses more ground

Imported pressure from the tech company results in the US sent Greek stocks down on Wednesday, as the blue chips second-quarter results season begins on Thursday with Mytilineos and most banks following next week. The cycle of growth remains open though, and it appears that the benchmark’s return to the 1,500-point level is only a matter of time, even amid the relatively low activity in mid-summer.

The Athens Exchange (ATHEX) general index closed at 1,466.73 points, shedding 0.91% from Tuesday’s 1,480.23 points. The large-cap FTSE-25 index contracted 1.19%, ending at 3,576.24 points.

The banks index dropped 2.03%, on Piraeus giving up 2.81%, Eurobank falling 2.65%, Alpha easing 2.29% and National decreasing 1.18%. Titan Cement jumped 3.41%, while ElvalHalcor lost 2.23%, OTE telecom conceded 2.13%, Motor Oil shed 1.94% and Helleniq Energy parted with 1.85%.

In total 20 stocks enjoyed gains, 73 showed losses and 25 remained unchanged.

Turnover amounted to 88.9 million euros, up from Tuesday’s €80.2 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 1% to close at 166.04 points.