BUSINESS

ATHEX: Stocks slip as investors cash in gains

TAGS: Stocks

Many investors cashed in last week’s gains on Monday, while turnover fell to the lowest point since November 28. Some losses were expected following the spending spree observed in previous sessions, although the unexpected shrinking of growth in the third quarter deepened the impact, while the market had already factored in the staff-level agreement with the country’s creditors.

The Athens Exchange (ATHEX) general index ended at 741.84 points, shedding 0.91 percent from Friday’s 748.66 points. The large-cap FTSE-26 index contracted 0.61 percent to 1,935.92 points.

The banks index gave up 2.61 percent, with Attica losing 5.71 percent, Eurobank falling 4.66 percent, Alpha decreasing 2.98 percent and National conceding 1.83 percent, as Piraeus advanced 0.79 percent.

Public Power Corporation suffered a 6.80 percent slump on expected turbulence after the government’s decision for the utility to part with four of its power units.

In total 42 stocks posted gains, 52 took losses and 23 remained unchanged.

Turnover amounted to 52.2 million euros, down from last Friday’s 68.8 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.64 percent to 70.39 points.

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