A decision by Deutsche Bank to sell its 9.3 percent equity stake in EFG Eurobank Ergasias, as part of its wider strategy to sell minorities stakes in listed companies, surprised investors and undemined sentiment in the Athens Stock Exchange on Wednesday.
The Greek bank's share price dropped 7.27 percent, although the wider market managed to recovery from earlier lows helped by a wave of buying interest in other blue chip banks, such as Alpha Bank and National Bank late at the session.
The general index ended 0.60 percent lower at 2,160.12 points, off the day's lows of 2,143 points. Turnover was a moderate 125.1 million euros.
The Publication and Insurance sectors scored the biggest percentage gains of the day (1.53 percent and 0.84 percent, respectively), while the Banks and Telecommunications sectors suffered the heaviest percentage losses (1.44 percent and 1.05 percent, respectively).
The FTSE/ASE 20 index for blue chip and other heavy traded stocks fell 0.85 percent, the FTSE/ASE MID 40 index eased 0.10 percent and the FTSE/ASE SmallCap 80 index ended 0.24 percent lower.
Broadly, decliners led advancers by 167 to 124 with another 71 issues unchanged.