Energy and credit stocks dragged the benchmark of the Greek stock market lower, but at a reasonable rate, on Monday, as traders appeared less impressed by the adjustment of the Greek growth projection by the European Commission. Morgan Stanley said in a report the upcoming shake-up in the MSCI stock indexes will not have a major impact on Athinon Avenue.
The Athens Exchange (ATHEX) general index closed at 859.38 points, shedding 0.88% from Friday’s 867.03 points. The large-cap FTSE-25 index contracted 1.01%, ending at 2,059.26 points, though the mid-cap index expanded 0.87%
After Friday’s respite, the banks index returned to its southbound course, losing 0.98%. Piraeus gave up 2.82%, Alpha dropped 1.11%, National eased 0.58% and Eurobank conceded 0.49%. PPC slumped 3.08%, both Hellenic Petroleum and OTE parted with 3.02%, as Viohalco advanced 2.21%.
In total 47 stocks reported gains, 56 sustained losses and 19 remained unchanged.
Turnover amounted to 83.7 million euros, down from last Friday’s €119.5 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.94% to close at 67.55 points.