July becomes fourth straight month of bourse loss

July proved to be the fourth consecutive month of decline for the Greek bourse as its benchmark shed 3.73 percent following Thursday’s dip, which was in line with most international stock markets on account of the Argentinean selective default. International sanctions on Russia have also played their part.

The Athens Exchange (ATHEX) general index ended at 1,169.01 points, shedding 2.16 percent from Wednesday’s 1,194.78 points.

The large-cap FTSE/ATHEX 25 index contracted 2.37 percent to close at 374.76 points.

Banks paid a disproportionately high price in July as they suffered losses of 8.15 percent on investor fears that the European stress tests may conclude that they have more capital needs.

All 25 blue chips ended in the red on Thursday, with Piraeus Port Authority and Marfin Investment Group falling 4.71 percent, OPAP giving up 4.02 percent and Mytilineos shrinking 3.46 percent. Eurobank Properties lost 0.11 percent.

In total 29 stocks reported gains, 70 suffered losses and 23 closed unchanged.

Turnover amounted to 77.2 million euros, up from Wednesday’s 67.7 million.