ATHEX: Greek stock market bends under pressure

TAGS: Stocks

Pressure from the US and eurozone markets resulted in significant losses for the majority of Greek stocks at the start of the week, those these were somewhat contained in the closing auctions.

The Athens Exchange (ATHEX) general index closed at 557.25 points, shedding 1.68 percent from Friday’s 566.80 points. The large-cap FTSE 25 index contracted 2.46 percent to end at 1,488.62 points.

Market jitters are expected to continue internationally at least until the Fed meeting next week. Pressure mounted on banks, whose index declined 3.98 percent. Piraeus gave up 8.51 percent, Eurobank surrendered 6.86 percent and National Bank shed 5.13 percent, while Alpha lost just 0.61 percent.

Lamda Development gave up 4.26 percent and Coca-Cola HBC dropped 3.32 percent, while the only blue chips to enjoy an increase were Titan Cement (up 2.38 percent), Folli-Follie (0.96 percent) and Ellaktor (0.85 percent).

In total 21 stocks registered gains, 66 suffered losses and 23 remained unchanged.

Turnover amounted to 34.7 million euros, the highest of the last seven sessions, up from last Friday’s 22 million.

The general index of the Cyprus Stock Exchange in Nicosia slipped 0.09 percent to close at 68.30 points.