STOCKS

ATHEX: No stopping the drop at local bourse

athex-no-stopping-the-drop-at-local-bourse

There appeared on Thursday to be no holding back the slide in Greek stock prices, which dropped considerably, with the benchmark conceding more than 2% in one go. Losers outnumbered the gainers by 10-to-1. The dividend paid out by several listed companies, including Coca-Cola HBC and Jumbo, is taking a toll on prices, but it is the pessimism generated by the pandemic data that is doing most of the damage at this stage.

The Athens Exchange (ATHEX) general index closed at 859.46 points, shedding 2.02% from Wednesday’s 877.22 points. The large-cap FTSE 25 index contracted 1.90% to close at 2,074.29 points.

The banks index sank 1.35%, as National parted with 2.28%, Piraeus conceded 1.92%, Eurobank fell 0.87% and Alpha Bank eased 0.84%.

Viohalco sank 4.42%, CCHBC gave up 4.16%, Lamda Development shrank 3.49%, and only Aegean headed higher (+0.76%).

In total 11 stocks enjoyed gains, 106 posted losses and 20 remained unchanged.

Turnover amounted to €57.1 million, up from Wednesday’s €41 million.

In Nicosia, the general index of the Cyprus Stock Exchange stayed put at 64.80 points.