BUSINESS

ATHEX: Credit sector losses are offset

TAGS: Stocks

The Capital Market Commission’s report showing foreign funds maintaining their short positions in local bank stocks resulted in a notable decline for the credit sector at the start of the week. However, non-bank blue chips managed to push the benchmark into positive territory at the end of the session despite the bank sector slump.

The Athens Exchange (ATHEX) general index closed at 619.27 points, adding 0.31 percent to Friday’s 617.37 points. The large-cap FTSE-25 index expanded 0.04 percent to 1,652.28 points and mid-caps outperformed to jump 1.41 percent.

The banks index fell 2.76 percent, with Piraeus losing 5.79 percent, National giving up 3.16 percent, Eurobank dropping 2.86 percent and Alpha sliding 2.11 percent. Public Power Corporation soared 6.42 percent, Ellaktor climbed 5.90 percent and Fourlis rose 4.99 percent.

In total 55 stocks posted gains, 39 took losses and 27 remained unchanged.

Turnover amounted to 28.8 million euros – Monday was a US holiday – down from last Friday’s 63.4 million.

In Nicosia the Cyprus Stock Exchange general index declined 0.65 percent to close at 63.76 points.

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