BUSINESS

ATHEX: Stocks cede some of their recent growth

TAGS: Stocks

The Greek stock market benchmark ended its four-session rising streak on Monday, as the major surge in the Public Power Corporation’s stock price was not enough to avert the slide in the main index that was largely brought on by anticipated profit taking by traders.

The Athens Exchange (ATHEX) general closed at 860.51 points, shedding 0.87 percent from Friday’s 868.10 points. The large-cap FTSE-25 index contracted 1.05 percent to end at 2,120.85 points, but small-caps advanced 0.87 percent.

The banks index slid 2.46 percent, as Piraeus lost 4.29 percent, National fell 3.11 percent, Eurobank conceded 1.93 percent and Alpha gave up 1.90 percent. PPC benefited from the plans announced for its streamlining, rising 11.34 percent, which also saw ADMIE Holdings climb 1.16 percent. Cenergy Holdings shrank 2.09 percent, Hellenic Petroleum dropped 1.93 percent and Jumbo lost 1.43 percent.

In total 41 stocks registered gains, 54 sustained losses and 32 remained unchanged.

Turnover amounted to just 35.3 million euros, mainly because of the US holiday, which affected most international trading.

In Nicosia the Cyprus Stock Exchange general index declined 0.97 percent to close at 70.40 points.

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