BUSINESS

ATHEX: Stocks edge lower on very thin turnover

TAGS: Stocks

After the excitement witnessed at the Greek bourse on Friday, Monday's trade in Athens returned to a level better suited to mid-August than the end of September, as early gains evaporated and the benchmark ended close to the day’s low, while trading volume dropped back below 30 million euros. The association of bourse investors is even considering calling for a reduction in trading hours.

The Athens Exchange (ATHEX) general index closed at 557.67 points, shedding 0.36 percent from Friday’s 559.50 points. The large-cap FTSE 25 index contracted 0.70 percent to end at 1,477.06 points.

Bank stocks had a mixed day as the market was awaiting today’s developments with Attica Bank, whose stock remains suspended. National was up 2.15 percent, Piraeus fell 4.38 percent, Alpha conceded 0.66 percent and Eurobank was a non-mover.

Folli Follie outperformed with a rise of 2.66 percent, followed by GEK Terna (up 2.33 percent). Jumbo lost 2.61 percent, while OPAP and Hellenic Petroleum decreased 2.38 percent.

In total 37 stocks reported gains, 50 sustained losses and 16 remained unchanged.

Turnover amounted to just 27.9 million euros, a fraction of Friday’s 139.8 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 1.04 percent to close at 67.66 points.

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