Stocks post slight drop on low volume

Local stocks posted a moderate decline on Thursday following Wednesday’s significant gains, while trading volume shrank to a six-week low on the absence of any concrete developments on the fiscal or business fronts.

The Athens Exchange (ATHEX) general index closed at 1,271.85 points, declining 0.50 percent from Wednesday’s 1,278.22 points. The large-cap FTSE/ATHEX 25 contracted 0.70 percent to 414.68 points, mostly due to the drop registered by bank stocks.

EYDAP outperformed among blue chips, climbing 4.34 percent, followed by Corinth Pipeworks, which added 3.48 percent. Leading the losers were Alpha Bank (down 2.95 percent), National Bank (2.40 percent) and Piraeus Bank (2.03 percent).

In total 68 stocks posted gains, 71 registered losses and 22 remained unchanged.

Turnover amounted to 57.3 million euros, down from Wednesday’s 66 million, with OTE and OPAP accounting for no less than 40 percent of trading volume.