BUSINESS

ATHEX: Benchmark weighed down by bank losses

TAGS: Stocks

Stocks moved within a particularly narrow range in on Tuesday’s trading session at Athinon Avenue, as the entire economy was hoping for a concrete token of support to come from US President Barack Obama’s visit to Athens. Eventually the benchmark closed near the day’s low, with banks taking quite a hit compared to other stocks.

The Athens Exchange (ATHEX) general index closed at 578.17 points, shedding 0.29 percent from Monday’s 579.88 points. The large-cap FTSE 25 index contracted 0.50 percent to 1,526.58 points, while mid-caps expanded 0.48 percent.

The banks index fell 0.88 percent, with Piraeus Bank decreasing 2.78 percent and National giving up 1.10 percent. Bank of Cyprus, which on Tuesday announced its plans to delist from the Athens bourse, advanced 0.75 percent.

Mytilineos outperformed among large-caps, climbing 3.67 percent. Jumbo jumped 2.02 percent, while METKA fell 4.81 percent and EYDAP gave up 4.40 percent.

In total 36 stocks reported gains, 50 took losses and 17 remained unchanged.

Turnover amounted to 36.3 million euros, up from Monday’s 28.2 million.

As of November 30 the stocks of Intralot and Attica Bank will be removed from the MSCI Small-Cap Greece Index.

In Nicosia the general index of the Cyprus Stock Exchange declined 0.18 percent to close at 66.38 points.

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