ATHEX: Stock index seems to have bottomed out
For a third day in a row the main index of the Greek stock market recorded losses on Thursday, but the defense line at the 1,400-point level held and it appears prices at Athinon Avenue are about to rebound on Friday as things stand. The local market appears oversold in the short term and a rebound now seems to be due, assisted by several corporate developments as well.
The Athens Exchange (ATHEX) general index closed at 1,400.43 points, shedding 0.41% from Wednesday’s 1,406.24 points. The large-cap FTSE-25 index contracted 0.42%, ending at 3,391.18 points.
Nevertheless, the banks index advanced 0.24%, as National earned 2.25% and Piraeus improved 1.31%, while Eurobank gave up 1.68% and Alpha declined 0.24%, though this was before the announcement by Moody’s that the latter is returning to investment grade after 14 years.
In total 45 stocks reported gains, 54 sustained losses and 23 remained unchanged.
Turnover amounted to 127.7 million euros, down from Wednesday’s €165.9 million.
In Nicosia, the general index of the Cyprus Stock Exchange decreased 1.09% to close at 159.90 points.
