BUSINESS

ATHEX: Index loses grip on key 650-pt level

TAGS: Stocks

The Euro Working Group’s anticipated formal approval of the disbursement of bailout funding for Athens on Thursday did little to excite investors in the local stock market, where sellers had the upper hand throughout the session on a fairly quiet day of trading.

The Athens Exchange (ATHEX) general index closed at 645.69 points, shedding 1.03 percent from Wednesday’s 652.38 points. The large-cap FTSE 25 index contracted 1.29 percent to end at 178 points, although small-caps advanced 1.28 percent.

As Piraeus Port Authority prepares to rubber-stamp its concession contract with Cosco Pacific today, its stock increased 2.03 percent on Thursday, beaten only by soaring Viohalco (up 6.58 percent). The leading blue chip losers were Jumbo (down 3.23 percent), Titan Cement (3.06 percent), Piraeus Bank (2.57 percent) and Terna Energy (2.10 percent).

In total 44 stocks headed north, 57 suffered losses and 17 remained unchanged.

Turnover amounted to 54 million euros, down from Wednesday’s 62 million and below the 100-million-euro mark for a seventh session in a row. Alpha Bank (down 0.43 percent) accounted for almost 46 percent of trading volume.

In Nicosia the general index of the Cyprus Stock Exchange expanded 0.16 percent to close at 69.79 points.

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