Cautious purchases as turnover dips

Investors proceeded with selective purchases on Monday on the Greek bourse, with most stocks posting gains and turnover at the lowest level in last successive 19 sessions.

The Athens Exchange (ATHEX) general index closed at 1,642.70 points, expanding by 1.28 percent from last Friday?s closing of 1,621.90 points. The blue chip FTSE/ATHEX 20 index grew by 1.39 percent to end at 781.27 points, though the small-cap FTSE/ATHEX 80 index declined by 0.57 percent.

Mytilineos outperformed among blue chips with growth of 5.70 percent, Alpha Bank followed with a 3.21 percent rise. OPAP gained 2.96 percent, Titan cement added 2.87 percent and Marfin Popular Bank advanced by 2.75 percent.

The biggest losers were state banks, lead by ATEbank (down 3.53 percent) and Hellenic Postbank (1.75 percent), as investors wait to see more activity as far as privatizations are concerned.

In total, 93 stocks moved up, 71 went south and 52 remained unchanged. Kyriakoulis led those rising with a 16.28 percent growth, while Elfiko posted the biggest loss, amounting to 18.75 percent.

Turnover came to just 95.7 million euros, down from 124.8 million last Friday.

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