ECONOMY

OPAP and PPC offset most of banks’ losses

Investor reluctance to make any significant moves on the local bourse was the main feature of the new week’s first trading session in Athens, with turnover tumbling to less than half of that registered last Friday.

The Athens Exchange (ATHEX) general index closed at 1,009.57 points, declining 0.49 percent from Friday’s 1,014.53 points. The large-cap FTSE/ATHEX-25 index contracted 0.84 percent to end at 343.10 points, though the mid-cap index added 1.25 percent and small-caps went up 1.96 percent.

The drop posted by most banks, whose index shrank 9.83 percent, was counterbalanced by rises chalked up the state companies to be privatized, i.e. OPAP and PPC. While National gave up 12.26 percent and Piraeus Bank fell 9 percent, the OPAP gaming company expanded by 6.60 percent and Public Power Corporation rose 3.35 percent.

The National Bank buyback warrant has declined by a total of 88 percent in the three sessions it has been trading in the bourse. It will continue to trade until this Friday.

In total 72 stocks registered gains, 78 suffered losses and 28 stayed put.

Turnover amounted to 78.3 million euros, down from Friday’s 158.1 million.