Sell-off postponement rumors take toll on bourse

Rumors that certain key privatization projects are to be put off until next year dealt a blow to the local bourse on Wednesday, sending stocks lower for the second session in a row. Turnover returned to particularly low levels.

The Athens Exchange (ATHEX) general index ended at 605.75 points, dropping by 2.56 percent from Tuesday’s closing figure of 621.69 points. The blue chip FTSE/ATHEX 20 index declined by 2.61 percent to close at 218.40 points.

With the exception of Cyprus Popular Bank (up 1.27 percent) and Viohalco (0.44 percent), all blue chips posted losses, led by Public Power Corporation (down 8.33 percent) and Ellaktor (5.17 percent).

In total, 40 stocks posted gains, 93 recorded losses and 21 remained unchanged.

Turnover amounted to just 22.8 million euros, down from Tuesday’s 32 million. 

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