ATHEX: Benchmark drops to new 17-month low

The benchmark of the Greek stock market dipped to a new 17-month low on Wednesday as pressure continued not only on bank stocks but also across the blue chip board as well as on bond prices. A balancing session is probably due.

The Athens Exchange (ATHEX) general index ended at 696.09 points, a level unseen since April 2017, shedding 1.99 percent from Tuesday’s 710.24 points. The large-cap FTSE-25 index contracted 2.43 percent to 1,823.11 points, while small-caps shrank just 0.02 percent.

The banks index gave up 4.56 percent in its fifth straight session of losses, despite a positive start to the day. In this period bank stocks have lost 17.3 percent of their value. On Wednesday National dropped 6.70 percent, Eurobank was down 4.96 percent, Piraeus parted with 3.58 percent and Alpha fell 3.34 percent.

Athens Water (EYDAP) conceded 5.29 percent, but GEK Terna grew 3.01 percent.

In total 31 stocks reported gains, 60 endured losses and 26 stayed unchanged.

Turnover amounted to 69.5 million euros, up from Tuesday’s 51.2 million.

In Nicosia the Cyprus Stock Exchange general index decreased 0.65 percent to close at 73.82 points.