Stock market stays bullish despite minor drop

Greek stocks recorded only a minor drop on Monday despite the early losses and the pressure applied on banks. Non-banking blue chips kept the main index near Friday’s levels as the market retains its bullish characteristics.

The Athens Exchange (ATHEX) general index closed at 1,338.68 points, shedding 0.19 percent from Friday’s 1,341.24 points. The large-cap FTSE/ATHEX 25 contracted 0.71 percent to 430.18 points, but the mid-cap index expanded by a respectable 1.83 percent.

Piraeus (down 5.18 percent) and Alpha (4.02 percent) suffered a significant decline, while National expanded by 5.78 percent. Jumbo added 3.33 percent and Folli Follie grew by 2.33 percent.

In total, 68 stocks recorded gains, 74 sustained losses and 25 remained unchanged.

Turnover amounted to 118 million euros, down from last Friday’s 162 million, in what was the eighth consecutive session with trading above the 100-million-euro level.