BUSINESS

ATHEX: Stocks remain on declining course for a third session

TAGS: Stocks

The downward revision of the economy’s fourth-quarter results by statistics agency ELSTAT increased uncertainty at the local bourse on Monday, leading to the third consecutive session of losses for its benchmark, albeit not to the extent one might have expected considering the problems in the bailout review and the warning from Moody’s.

The Athens Exchange (ATHEX) general index closed at 643.50 points, shedding 0.96 percent from Friday’s 649.73 points. The large-cap FTSE 25 index contracted 1.10 percent to 1,717.22 points.

Bank stocks were at the eye of the storm, giving up 3.61 percent: Piraeus lost 4.35 percent, Eurobank slumped 3.66 percent, Alpha fell 3.45 percent and National surrendered 3.25 percent. Ellaktor grabbed 1.79 percent and Motor Oil rose 1.40 percent.

In total 34 stocks posted gains, 58 fell and 38 ended unchanged.

Turnover amounted to 29.5 million euros, against Friday’s 30.2 million.

In Nicosia the general index of the Cyprus Stock Exchange declined 1.30 percent to close at 65.91 points.

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