BUSINESS

ATHEX: Concerns over shake-up of MSCI indexes quell euphoria

TAGS: Stocks

The euphoria over the Eurobank-Grivalia merger lasted just a few hours at the Greek bourse on Monday, as concerns over next week’s rebalancing of the MSCI index, which may trigger a further outflow of investors, curtailed early gains and led the banks index into negative territory.

The Athens Exchange (ATHEX) general index ended at 603.43 points, adding 0.14 percent to Friday’s 602.60 points. The large-cap FTSE-25 index expanded 0.25 percent to 1,580.31 points, while the mid-cap index contracted 0.72 percent.

The banks index slipped 0.08 percent, as Eurobank saw its morning rise of almost 25 percent shrink to just 4.31 percent. Piraeus increased 1.98 percent, Alpha lost 1.67 percent and National gave up 3.05 percent. Grivalia climbed 6.28 percent.

In total 49 stocks posted gains, 36 took losses and 29 stayed put.

Turnover amounted to 64.9 million euros, with over 60 percent concerning Eurobank and Grivalia.

In Nicosia the Cyprus Stock Exchange general index declined 0.39 percent to close at 66.42 points.

Online