ECONOMY

Stocks slide further ahead of holidays

There was little in the way of a festive mood at the Greek bourse on Monday as stocks continued to slide for the eighth trading day out of the last nine. The benchmark had slipped by as much as 2.52 percent at mid-session, although it managed to recover some of the losses before the closing.

The Athens Exchange (ATHEX) general index finally closed at 1,112.08 points, the lowest since October 11, giving up 1.05 percent from Friday’s 1,123.86 points. The large-cap FTSE/ATHEX 25 contracted 0.83 percent to end at 368.70 points.

Blue chip Eurobank Properties outperformed, rising 6.58 percent, followed by Hellenic Petroleum (up 2.58 percent), which signed the deal for the sale of natural gas network operator to Azerbaijan’s Socar on Saturday.

National Bank dropped below the 4-euro mark, to 3.93 euros, posting a 4.61 percent decline. Folli Follie fell 3.14 percent and Mytilineos shrank by 3.04 percent.

In total 44 stocks recorded gains, 105 suffered losses and 14 remained unchanged. Turnover amounted to 155.6 million euros, down from last Friday’s 207.6 million.

The bourse will stay closed from Tuesday for the Christmas holidays and reopen on Friday.