The Athens market regressed in a controlled manner today, in line with the European trend, but without sales gaining any intensity and with turnover at low levels.

In particular, the General Index moved steadily downwards and closed at 1,449.4 points with -0.63% (day low at 1,446.05 points). Turnover amounted to 102.74 million but 26.7 million was related to 13 packages (mainly 2 in OPAP for 13.8 million, one in Piraeus for 5.6 million) with a trading volume of 21.8 million pieces. 

The banking index closed with a small loss of 0.27% at 1,288.22 points, the high-cap FTSE closed at 3,530.7 points with -0.74%; and the mid-cap FTSEM closed at 2,305.07 points with -0.24%

With a strong first 15 days of July having had just 2 down sessions (in 11), the market was bound to need to make a 'stop for strength' and digest the new levels, with European indices moving down for a second day perhaps providing a good excuse.

Both the low turnover, moreover, and the fact that sellers have focused on outperforming securities suggest more profit-taking than a change of mood. Indicatively, among others, Biohalco which was running in July before today's session with +7.56%, Elvalhalcor with +6.58%, Metlen +5.28% and of course Lambda with +10.8%, were in the "crosshairs".

Otherwise, the General Index did not even approach the 1,440 level, which is near support according to Fast Finance, while the positive news for the market continues with UBS starting coverage of Greek banks today, declaring itself a "buyer" and seeing a strong rally.

Also indicative of the day was that half of the turnover of the session was in just 5 stocks, the 4 banks and OPAP (cumulative 52 million euros).

Among the main sellers' picks, Metlen (4.8 million euros) fell to 35.78 euros with -2.51%, PPC (3.1 million) to 11.32 euros with -2.58%, Lamda (1.55 million) to 7.26 euros with -2.81%, Viohalco (851 thousand) to 5.97 euros with -2.45%, and Elvalhalcor (385 thousand) to 1.832 euros with -2.55%.

Motor Oil (3.5m) gave up much of yesterday's gains (+2.48%) immediately, retreating to 22.8 euros with -1.64%, and ELPE (2m) retreated to 7.51 euros with -1.7% as oil prices have been moving downwards in recent days.

OTE (6.1m) was at 14.04 euros with -1.13% and Hellaktor (644k) at 2.59 euros with -1.52%.

Mixed trends were seen in banks, where Ethniki (12.8m) moved to 8 euros with +0.35% and Piraeus (10.67m) to 3.79 with +0.37%, while Alpha (6.33m) fell to 1.685 euros with -0.88% and Eurobank (5.77m) to 2.12 euros with -0.93%.

OPAP, which topped the turnover with a total of 17.98 million with packages (13.8 million), remained unchanged at 15.6 euros. GEK TERNA (1.5 million) contributed significantly to the market's growth with a gain of 1.37% at EUR 17.82, and Aegean (526 thousand) also showed some growth with +0.5%.

In the lower layers, Intralot (898k) posted a 2.07% loss to close with a 1.1% gain at EUR and Profile (526k) staged a strong 6.5% rally to EUR 5.38.