STOCKS

ATHEX: Index starts week with 2.5% decline

athex-index-starts-week-with-2-5-decline

The Piraeus Bank limit-down upon its return to trading (slumping 29.97%) weighed the entire bourse at Athinon Avenue down on Monday, with the benchmark losing over 2.5% and losers outnumbering gainers by a six-to-one ratio. The unexecuted sale orders for Piraeus will likely leave a trail for Tuesday’s session too.

The Athens Exchange (ATHEX) general index ended at 875.76 points, shedding 2.55% from Friday’s 898.63 points. The large-cap FTSE 25 index contracted 2.69% to close at 2,117.49 points.

The banks index nosedived 5.63%, its biggest drop in almost three months. National sank 5.70%, Alpha declined 5.40% and Eurobank parted with 4.58%.

All but three blue chips saw their price shrink, led by Ellaktor (down 6.11%), Aegean Airlines (5%) and Fourlis Holdings (4.11%), while Coca-Cola HBC advanced 1.33%.

In total 16 stocks posted gains, 92 registered losses and 18 remained unchanged.

Turnover amounted to 70.5 million euros, down from last Friday’s €99.5 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.18% to close at 62.64 points.