Stocks remain under pressure

Stocks remained under strong pressure for one more session in the Athens Stock Exchange on Wednesday, pushing the composite index of the market below the 1,400 level again. Rumors that Fitch Ratings will further downgrade the Greek economy combined with intensified speculation over a debt restructuring, created a negative climate in the market. The index fell 1.79 pct to end at 1,387.59 points, with turnover remaining a low 86.351 million euros.

The Big Cap index dropped 2.11 pct, the Mid Cap index ended 0.54 pct down and the Small Cap index eased 0.02 pct. ATEbank (4.55 pct), Jumbo (1.29 pct) and Titan (0.06 pct) were the only blue chip stocks to end higher, while Viohalco (3.9 pct), Cyprus Bank (3.73 pct), Alpha Bank (2.92 pct), Piraeus Bank (2.8 pct) and Eurobank (2.76 pct) were major losers. The Personal Products (0.34 pct) and Commerce (0.07 pct) sectors scored gains, while Insurance (3.38 pct), Banks (2.73 pct) and Travel (2.26 pct) suffered losses.
Broadly, decliners led advancers by 83 to 55 with another 50 issues unchanged.

Vovos (19.21 pct), Lazaridis (18.18 pct) and Papoutsanis (17.65 pct) were top gainers, while AXON (19.39 pct), Demetriou (10 pct) and Nikas (9.4 pct) were top losers.

Sector indices ended as follows:
Insurance: -3.38%
Industrials: -1.51%
Commercial: +0.07%
Construction: -0.32%
Media: -0.35%
Oil & Gas: -1.93%
Personal & Household: +0.34%
Raw Materials: -1.30%
Travel & Leisure: -2.26%
Technology: -2.23%
Telecoms: -1.94%
Banks: -2.73%
Food & Beverages: -1.30%
Health: -2.21%
Utilities -0.43%
Chemicals: -2.15%
Financial Services: -1.74%

The stocks with the highest turnover were National Bank, OPAP, Coca Cola3E and OTE.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:

Alpha Bank: 3.66
ATEbank: 0.46
Public Power Corp (PPC): 11.20
HBC Coca Cola: 18.05
Hellenic Petroleum: 6.84
National Bank of Greece: 5.00
EFG Eurobank Ergasias: 3.52
OPAP: 14.11
OTE: 7.60
Bank of Piraeus: 1.04
Titan: 17.86

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