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Politics weighs heavily on bourse mood

The unclear political landscape and delays concerning privatizations in the credit sector weighed heavily on the mood at the Greek bourse on Monday, imposing fresh losses on stocks while investors who chose not to be classified as sellers simply stayed away, with turnover posting a considerable drop.

The Athens Exchange (ATHEX) general index closed at 1,239.48 points, shedding 2.29 percent from Friday’s 1,268.53 points. The large-cap FTSE/ATHEX 25 contracted by 1.94 percent to 407.75 points.

The next few days are seen as decisive for the future course of the market, which remains bound to political developments as the government is desperate for some good news that will change the mood of voters and investors in its favor.

No more than two blue chips were on the winning side after the end of trading, with the OPAP gaming company adding 1.49 percent and Coca-Cola HBC rising 0.19 percent. Corinth Pipeworks declined by 4.76 percent and OTE telecom fell by 4.12 percent.

In total 41 stocks registered gains, 101 suffered losses and 20 remained unchanged.

Turnover amounted to just 67.8 million euros, down from last Friday’s 92.5 million.

ekathimerini.com , Monday Jan 20, 2014 (21:02)  
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