BUSINESS

Politics cast shadow over local bourse

Political developments weighed heavily on the Greek stock market on Thursday, leading the benchmark index to register losses that were added to during the closing auctions.

The Athens Exchange (ATHEX) general index closed at 1,323.24 points, shedding 2.20 percent from Wednesday’s 1,353.01 points. The large-cap FTSE/ATHEX 25 fell 2.19 percent to 426.57 points, while the small-cap index outperformed again with gains of 0.21 percent.

The sole blue chip to register gains in Thursday’s session was Alpha Bank, helped by the fact that its new shares will be listed on Friday. Alpha rose 4.89 percent, while Intralot was a non-mover.

All other large-caps headed lower, with Titan Cement sliding 5.76 percent, Piraeus Port Authority dropping 5.11 percent and Frigoglass giving up 4.66 percent.

In total, 46 stocks posted gains, 98 showed losses and 18 stayed put.

Turnover soared to 158 million euros, up on Wednesday’s 99.7 million.

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