ATHEX: Greek bourse benchmark gives up 4 pct

In recent weeks Greek stocks have got into the habit of crawling up before tumbling down, and on Wednesday – true to form – the benchmark fell almost 4 percent after coming close to 500 points. These days, the fact that turnover is higher when stocks fall clearly reveals the general sentiment among investors.

The Athens Exchange (ATHEX) general index closed at 474.28 points, the lowest level of the last eight sessions, shedding 3.99 percent from Tuesday’s 493.97 points. The large-cap FTSE 25 index contracted 4.98 percent to end at 126.07 points. Small-caps expanded 0.74 percent.

The banks index declined 7.78 percent, with Eurobank falling 12.36 percent, National sliding 10.47 percent and Piraeus conceding 9.63 percent. Alpha did quite well by comparison, losing just 3.08 percent.

Grivalia Properties (up 0.97 percent) and Terna Energy (0.48 percent) were the only blue chips to enjoy gains, while Viohalco gave up 9.27 percent, Mytilineos decreased 8.86 and PPC shrank 8.81 percent.

In total 31 stocks reported gains, 70 registered losses and nine remained unchanged.

Turnover amounted to 53.6 million euros, up from Tuesday’s 35.8 million.

In Nicosia the general index of the Cyprus Stock Exchange added 0.64 percent to 65.94 points.