After strong fluctuations, the General Index of ASE trimmed significantly intraday losses on Thursday, but failed to avoid a fourth consecutive downward session.
Similarly, Greek banks recovered from intraday losses of 3.79%, while Ellaktor’s major profits and ATEBank’s plunge stood out on FTSE20 board.
The market focused on Thursday on the statements by the President of the European Central Bank, Jean-Claude Trichet, who repeated its opposition to the proposal of “selective default” for Greece, while the ECB decided to continue to accept Portuguese bonds as collateral, despite they are considered junk by the rating agencies.
Additionally, Emporiki Bank said in a technical analysis that the support level of 1,240 units is critical for the short-term course of the General Index.
"We are seeing some technical support around the 1244 level, but the market is still searching for direction," a local analyst told Dow Jones Newswires.
On the board, the General Index ended at 1,264.23 units, with marginal losses of 1.12%, moving into negative territory throughout the trading session. Intraday losses reached 1.65%, while a total amount of 68 shares rose, 61 declined and 151 remained unchanged. Approximately 37.96 million units worth €101.83 million traded on Thursday.
Banks closed at 947.51 units with losses of 0.73%.
Ellaktor topped FTSE20 with profits of 5.58%, while Viohalco rose by 2.80%. Eurobank and MIG followed with gains of 1.87% and 1.69% respectively.
On the other hand, ATEBank fell by 25.93%, while PPC declined by 3.33%. Motor Oil, Hellenic Petroleum and Bank of Cyprus lost 2.55%, 2.13% and 2.04% respectively.
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