ECONOMY

Local index shrinks by 2 percent

The enthusiasm sparked by the government reshuffle and the Franco-German statements of support for the Greek economy quickly evaporated, as the local bourse returned to its southbound course on Monday.

The Athens Exchange (ATHEX) general index ended at 1,229.43 points, shrinking by 1.96 percent from last Friday?s close at 1,254.02 points. The blue chip FTSE/ATHEX 20 index dropped by 2.52 percent to end at 550.57 points.

ATEbank outperformed the blue chips with gains of 0.80 percent, followed by OPAP (up 0.71 percent) and Coca-Cola HBC (0.34 percent). The worst losses were for Hellenic Postbank (down 6.73 percent), Bank of Cyprus (5.14 percent), Eurobank EFG (5.05 percent), Mytilineos (4.85 percent) and Marfin Popular Bank (4.76 percent).

In total, 52 stocks moved up, 87 went down and 46 remained unchanged. Vioter posted the biggest rise with gains of 18.75 percent, while Sanyo Hellas led the losers, shedding 12.50 percent.

Turnover crashed from 145 million euros on Friday, to a meager 56.5 million euros on Monday.