Stocks inch up but turnover remains low

The Greek bourse added a third day to its short streak of rising sessions on Monday, although transaction volumes remain at particularly low levels.

The Athens Exchange (ATHEX) general index closed at 874.40 points, adding 1 percent to Friday’s 865.72 points. The large-cap FTSE/ATHEX 25 index grew 0.80 percent to end at 296.47 points, although the small-cap index gave up 1.55 percent.

The unconvincing level of trading activity points to a likely steep fall in prices when sellers choose to return, as they appear to have abstained from the last few sessions.

There was no clear pattern in the behavior of blue chips, with most spending the whole of the day in the green, led by Viohalco (up 6.86 percent) and Hellenic Petroleum (5.88 percent), while Eurobank Properties fell 2 percent followed by Jumbo (down 1.69 percent).

Also declining were the bourse’s biggest chips in terms of capitalization, Coca-Cola HBC (down 0.05 percent) and National Bank (0.77 percent).

OPAP was a non-mover despite posting a daily turnover of over 1 million euros.

In total 74 stocks recorded gains, 54 sustained losses and 21 remained unchanged.

Turnover amounted to 29.5 million euros, down from last Friday’s 32 million.

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