BUSINESS

ATHEX: Local stocks head lower on IMF leak jitters

TAGS: Stocks

The leaked conversation between two International Monetary Fund officials and the war of words it triggered resulted in moderate losses for the majority of Greek stocks at the start of the week, although the worst was averted by statements from both the Greek government and the IMF that everyone involved was focused on gearing up to a speedy conclusion to the bailout review that restarted on Monday.

The Athens Exchange (ATHEX) general index closed at 564.75 points, shedding 1.19 percent from Friday’s 571.56 points. The large-cap FTSE 25 index contracted 1.58 percent to end at 154.91 points, while small-caps expanded 0.59 percent.

The banks index was hit hardest, shrinking 5.35 percent. Piraeus Bank fell 8.48 percent, National dropped 5.51 percent, Eurobank gave up 4.81 percent and Alpha Bank declined 4.19 percent.

Among other blue chips, Folli Follie advanced 2.06 percent and Coca-Cola HBC improved 1.66 percent, as Ellaktor slid 3.97 percent, Public Power Corporation lost 2.63 percent and Hellenic Petroleum conceded 2.45 percent.

In total 35 stocks registered gains, 64 recorded losses and 16 remained unchanged.

Turnover amounted to just 40.9 million euros, down from last Friday’s 42.1 million.

In Nicosia the general index of the Cyprus Stock Exchange increased 0.53 percent to 67.86 points.

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