BUSINESS

ATHEX: Mixed day sends index slightly lower

TAGS: Stocks

Sellers narrowly outweighed buyers in Tuesday’s bourse session at Athinon Avenue after a mixed day with dropping stocks edging rising ones by the smallest of margins. The slow trade combined with the constant decline of Greece’s cost of borrowing, as bond yields continue to post all-time lows every day, illustrate that investors would rather buy Greek bonds than stocks at this stage.

The Athens Exchange (ATHEX) general index ended at 636.33 points, shedding 0.17% from Monday’s 637.39 points. The large-cap FTSE 25 index contracted 0.20% to close at 1,508.63 points, but the mid-cap index rebounded 0.70%.

The banks index slid 0.27%, as Piraeus fell 1.38%, Eurobank eased 0.31% and Alpha slipped 0.19%.

Motor Oil declined 3.33% and Piraeus Port Authority parted with 2.36%, while Mytilineos improved 2.44%.

In total 43 stocks registered gains, 44 sustained losses and 25 remained unchanged.

Turnover amounted to €39.7 million, down from Monday’s €39.7 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.65% to close at 43.99 points.

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