ATHEX: Geopolitics offsets good local news

ATHEX: Geopolitics offsets good local news

The growing geopolitical concerns canceled out the positive effect of the Alpha Bank-Unicredit agreement in Romania and Greece, while Standard & Poor’s boosting of the Greek rating to investment grade had long been taken for granted. The Capital Market Commission rushed to suspend trading of Alpha’s shares until further notice, leaving the stock market with significantly lower trading volume than expected.

The Athens Exchange (ATHEX) general index closed at 1,173.70 points, shedding 0.10% from Friday’s 1,174.91 points. The large-cap FTSE-25 index contracted 0.06% to end at 2,882.97 points, though mid-caps expanded 0.11%.

The banks index declined 0.36%, as Eurobank dropped 0.98% and National eased 0.18, while Piraeus advanced 0.07%.

Jumbo soared 4.71% and Cenergy Holdings grabbed 1.93%, just as Quest Holdings gave up 2.50%, Sarantis fell 2.34% and Motor Oil parted with 2.28%.

In total 45 stocks posted gains, 54 endured losses and 17 remained unchanged. Turnover amounted to 97.9 million euros, down from last Friday’s €115.8 million.

In Nicosia, the general index of the Cyprus Stock Exchange decreased 0.52% to 126.99 points. 

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