ATHEX: Profit taking on relatively low turnover

ATHEX: Profit taking on relatively low turnover

The widely anticipated upgrading of Greece’s outlook to “Positive” by Standard & Poor’s on Friday was taken in the traders’ stride in Monday’s bourse session, with many of them engaging in some profit taking that focused on banks and construction companies. Turnover posted a considerable decline though. Investors’ eyes are now on the upcoming rebalancing of the MSCI Greece Standard Index.

The Athens Exchange (ATHEX) general index closed at 1,105.42 points, shedding 0.53% from Friday’s 1,111.33 points. The large-cap FTSE-25 index contracted 0.56% to end up at 2,679.92 points.

The banks index dropped 1.63%, as Piraeus slumped 3.85%, Alpha parted with 1.82%, National gave up 0.99% and Eurobank conceded 0.95%. Terna Energy advanced 2.18% and Jumbo earned 1.50%, as Ellaktor shrunk 3.33%, Lamda Development lost 1.98%, ElvalHalcor was down 1.92% and Mytilineos eased 1.74%.

In total 36 stocks posted gains, 61 reported losses and 26 remained unchanged. Turnover amounted to 50.6 million euros, down from last Friday’s €83.3 million.

In Nicosia, the general index of the Cyprus Stock Exchange increased 0.04% to close at 108.12 points.

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