Poor turnover renders local bourse irrelevant

There was little action on the local stock market on Thursday, as turnover failed to climb above a paltry 14 million euros — likely due to a combination of the customary summer lull and investors opting to wait and see what happens during a scheduled visit by representatives of Greece?s creditors next week.

The Athens Exchange (ATHEX) general index ended at 613.65 points, adding 0.21 percent to Tuesday?s closing figure of 612.38 points. The blue chip FTSE/ATHEX 20 index expanded by 0.20 percent to close at 222.72 points, but mid-caps gave up 0.53 percent.

OTE telecom gained 3.39 percent, while METKA fell 3.79 percent.

In total, 55 stocks posted gains, 65 recorded losses and 31 remained unchanged.

Turnover came to just 13.6 million euros, down from Tuesday?s 17.4 million.