Sellers held a small but steady advantage in European markets. The same was true on the Greek stock market, where turnover was notably subdued.
Investors are also waiting for the US election, sticking for now to measured, cautious moves.
The trend in Wall Street futures is unchanged, with S&P 500 futures holding at a discount and the VIX/CBOE above the 20-point threshold. S&P 500 futures are down 0.27% at 7,544 points, while the VIX/CBOE stands at 21.24, edging higher.
In European trading, Frankfurt's DAX is at 25,820, down 0.67%, while Paris's CAC 40 is at 8,035, down 0.17%. With the Euro Stoxx Banks at 276.14, down 0.62%, sellers in Athens retain their slight advantage in the sector.
A notable feature of the session has been subdued turnover: just €120 million earlier, proportionately less than yesterday's at the same time (3 p.m.).
The consensus is that European markets are waiting for Wall Street's cue before placing orders in response to developments and the outlook for the world's largest economy. Short-term investors were cautious on Wall Street yesterday evening anyway, and Frankfurt, Paris and other markets were unlikely to take a dramatically different tack today — even more so in Athens and on Euronext Athens.
Since pre-opening trading, sellers have held the upper hand, keeping the General Index within a range of 2,576-2,593 points.
The Banking Index and FTSE 25 have traded in negative territory throughout, with a few exceptions among individual bank and large-cap stocks. It was clear from the outset that orders would be specific and targeted: stock picking, as we noted in our pre-market commentary.
Alpha Bank (4.449) is outperforming its fellow systemic banks, including Piraeus Bank (9.478), Eurobank (4.446) and National Bank of Greece (15.73).
Supply is moderate at slightly lower prices, while demand remains subdued, with the sector's trend still bearish over the one- and three-month periods.
Buyers' attention is focused on selected large caps, with Jumbo at €27.58, OTE at €19 and GEK TERNA at €39.36. Buyers also predominate in Credia Bank at €0.927, AEGEAN at €10.98 and Lamda Development at €6.05.
EXAE (11.02), Ellaktor (1.222), ADMIE (4.405), Autohellas (10.34) and Kri Kri (34.45) were the five FTSE Mid Cap stocks to rise.
The ratio of shares trading higher to those trading lower stood at 37/69 (at 3 p.m.).