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Main bourse index hits two-month low

The benchmark index for Greek stocks closed at its lowest point in two months on Monday, but the major midday losses were contained and turnover remained above the 100-million-euro mark.

The Athens Exchange (ATHEX) general index ended at 1,149 points, declining 0.80 percent from Friday’s 1,158.24 points. The blue chip FTSE/ATHEX 25 contracted 1.01 percent, closing at 369.65 points.

Observers note the absence of foreign buyers, as investors are choosing to discreetly let go of their holdings, mainly in the banking sector. They are doing so on the rumors of systemic banks’ additional capital requirements following this fall’s stress tests to be carried out by the European Central Bank.

As a result banks were the worst performers among blue chips, with Piraeus giving up 3.90 percent and Alpha shedding 3.21 percent, while GEK Terna added 2.94 percent and Eurobank Properties expanded by 222 percent.

In total 41 stocks reported gains, 72 suffered losses and 19 remained unchanged. Turnover amounted to 101.7 million euros down from last Friday’s 103.9 million.

Eltech Anemos makes its bourse debut on Tuesday, with parent company Ellaktor announcing on Monday the decrease of its stake to 64.5 percent.

ekathimerini.com , Monday Jul 21, 2014 (19:17)  
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