BUSINESS

ATHEX: Corporate issues keep weighing on stock prices

TAGS: Stocks

The Greek benchmark bond yield may have eased to 4.51 percent on Monday, but the continued problems related to Folli Follie that have now also spread to the privatization process of Ethniki Insurance with the withdrawal of Folli Follie stakeholder Fosun pushed local stock prices further south.

The Athens Exchange (ATHEX) general index ended at 758.96 points, shedding 1.82 percent from Friday’s 773.06 points. The large-cap FTSE-25 index contracted 1.57 percent to 1,995.65 points.

The banks index shrank 0.71 percent, as National – Ethniki’s owner – fell 1.51 percent, Eurobank declined 1.01 percent and Alpha decreased 0.86 percent. Piraeus contained the index’s drop with its 1.87 percent advance.

In total 38 stocks posted gains, 61 registered losses and 18 closed unchanged.

Turnover amounted to just 37.3 million euros, down from last Friday’s 47.1 million.

In Nicosia the Cyprus Stock Exchange general index gave up 0.36 percent to close at 69.14 points.

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