BUSINESS

ATHEX: Benchmark slips in very thin trade

TAGS: Stocks

Greek stocks declined for the third session in a row on Monday, on particularly thin trading volume partly explained by the bank holiday in the UK. Market experts attribute the drop to the tension between Brussels and Athens concerning Greek statistics and the upcoming second bailout review.

The Athens Exchange (ATHEX) general index closed at 561.69 points, shedding 0.65 percent from Friday’s 565.34 points. The large-cap FTSE 25 index contracted 0.74 percent to end at 1,492.29 points, while small-caps advanced 0.43 percent.

The combined trading volume of the four systemic banks’ stocks was the lowest of the year, ahead of Tuesday’s announcement of second-quarter financial results by Alpha Bank and Piraeus, followed on Wednesday by National and Eurobank. The sector’s index gave up 0.38 percent, as National fell 1.04 percent and Eurobank gave up 0.88 percent.

OPAP outperformed with 0.83 percent growth and Grivalia Properties added 0.42 percent, while GEK Terna and Public Power Corporation dropped 2.66 percent and 2.65 percent respectively.

In total 33 stocks reported gains, 54 registered losses and 23 remained unchanged.

Turnover amounted to 15.6 million euros, the lowest of the last eight sessions, down from Friday’s 26 million.

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