BUSINESS

ATHEX: Credit stocks continue to sink lower

TAGS: Stocks

There was little movement on the local stock exchange on Wednesday as the rises registered by most European markets and the decline of the Greek benchmark bond’s yield failed to impress traders. With two sessions left till the end of the year’s first half, banks continued to lose ground. The credit sector’s stocks have returned to prices below those of their last recapitalization.

The Athens Exchange (ATHEX) general index ended at 767.91 points, shedding 0.13 percent from Tuesday’s 768.89 points. The large-cap FTSE-25 index contracted less than 0.01 percent to 2,011.16 points.

The banks index gave up 1.81 percent, as Piraeus sank 3 percent, Alpha dropped 2.01 percent, National declined 1.62 percent and Eurobank conceded 1.08 percent. The blue chip index saw those losses offset by gains for Jumbo (2.52 percent), Fourlis (2.01 percent) and Coca-Cola HBC (1.05 percent).

In total 44 stocks headed higher, 49 sustained losses and 28 remained unchanged.

Turnover amounted to 49.4 million euros, up from Tuesday’s 39.8 million.

In Nicosia the Cyprus Stock Exchange general index grew 1.03 percent to close at 71.64 points.

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