BUSINESS

ATHEX: Recent gains cashed in

TAGS: Stocks

Many investors cashed in the profits of nine days of stock gains on Thursday, sending the benchmark of the Greek stock market back below the 800-point level, on considerably reduced trading volume, ahead of Friday’s last session of the year. Profit taking predictably focused on bank stocks.

The Athens Exchange (ATHEX) general index ended at 799.05 points, shedding 1.26 percent from Wednesday’s 809.23 points. The large-cap FTSE-25 index contracted 1.19 percent to 2,074.89 points.

The banks index slumped 4.02 percent, as Eurobank lost 5.63 percent, Alpha declined 4.79 percent, Piraeus gave up 4.06 percent and National ceded 1.88 percent. Still, Attica Bank added another 18.51 percent to its 22 percent growth on Wednesday.

Grivalia Properties and Coca-Cola HBC bucked the trend, advancing 0.55 percent and 0.48 percent respectively.

In total 33 stocks saw gains, 65 posted losses and 39 ended unchanged.

Turnover came to 43.5 million euros, down from Wednesday’s 140 million.

In Nicosia the Cyprus Stock Exchange general index edged 0.01 percent lower to 69.39 points.

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