ATHEX: Market reacts to three days of decline

Following the trend set by global markets since late on Tuesday, buyers in Athens took advantage of the benchmark’s three-day decline on Wedneday, allowing Greek stocks to recover some lost ground. However, trading volume was considerably lower than in the last few sessions.

The Athens Exchange (ATHEX) general index ended at 849.94 points, adding 1.33 percent to Tuesday’s 838.80 points. The large-cap FTSE-25 index expanded 1.25 percent to 2,157.50 points.

The banks index increased 1.47 percent, as Piraeus jumped 4.30 percent, Eurobank ascended 2.64 percent and Alpha rose 0.49 percent. National edged just 0.25 percent higher, having dropped by as much as -1.26 percent during the day due to negative developments in the concession of its subsidiary, Ethniki  Insurance.

Among other blue chips, Folli Follie surged 3.80 percent, Titan Cement grew 3.76 percent and PPC contracted 2.25 percent.

In total 85 stocks saw gains, 26 registered losses and 24 remained unchanged.

Turnover amounted to 71.3 million euros, down from Tuesday’s 117.3 million.

In Nicosia the Cyprus Stock Exchange general index posted a 0.24 percent rise to 69.71 points.