ATHEX: Stocks drop as traders buy T-bills

Losses accelerated at the Greek stock market on Wednesday as buyers were far outnumbered by buyers and the benchmark closed at the day’s low. Bank and energy stocks lost much of the ground gained in recent days.

The Athens Exchange (ATHEX) general index ended at 662.67 points, shedding 2.36% from Tuesday’s 678.68 points. The large-cap FTSE 25 index contracted 2.13% to 1,606.28 points.

Predictably some of the liquidity was channeled to Wednesday’s treasury bill auction, which saw 52-week T-bills worth 1.3 billion euros sold at an interest rate of 0.25%.

The banks index slumped 5.04%, as National fell 6.85%, Eurobank declined 5%, Alpha dropped 4.45% and Piraeus parted with 3.15%.

Aegean Air gave up 7.84%, followed by Motor Oil (down 5.97%), OPAP (5.73%) and Public Power Corporation (4.04%). Fourlis rose 1.03%. 

In total 16 stocks posted gains, 89 endured losses and 16 remained unchanged.

Turnover amounted to €84.8 million, down from Tuesday’s €89.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.57% to close at 48.47 points.