BUSINESS

ATHEX: Stocks slide as expectations are dashed

TAGS: Stocks

Trader disappointment on Monday over Moody’s decision not to issue its verdict on the Greek economy last Friday, amid the general negative mood in markets due to the mutual tariffs on US and Chinese goods, put fresh pressure on most local stocks, with the low turnover mirroring investor reluctance.

The Athens Exchange (ATHEX) general index ended at 689.96 points, shedding 1.26 percent from Friday’s 698.74 points. The large-cap FTSE-25 index contracted 1.25 percent to 1,809.14 points.

The banks index shrank 3.68 percent, as Piraeus’s losses of 6.70 percent were followed by Alpha (down 3.85 percent), Eurobank (3.04 percent) and National (2.26 percent).

Lamda Development slumped 4.39 percent, PPC conceded 4.14 percent, Sarantis fell 3.42 percent, Fourlis declined 2.59 percent, Titan Cement surrendered 2.56 percent, Mytilineos eased 2.52 percent and ADMIE Holdings dropped 2.23 percent. Motor Oil bucked the trend, climbing 3.10 percent.

In total 31 stocks posted gains, 59 sustained losses and 30 stayed put.

Turnover was the lowest of the last 17 sessions, amounting to 32.1 million euros, just a fraction of last Friday’s 104.4 million.

In Nicosia the Cyprus Stock Exchange general index rebounded 0.78 percent to close at 72.67 points.

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