ECONOMY

Stocks lose ground as investors lose interest

Unmoved by the prospect of a likely credit rating upgrade for Greece by Standard & Poor’s on Friday, investors in local stocks were rather bearish on Thursday, while the trading volume was the lowest observed in the last eight sessions.

The Athens Exchange (ATHEX) general index ended at 1,166.60 points, shedding 0.36 percent from Wednesday’s 1,170.85 points.

The large-cap FTSE/ATHEX 25 index contracted by 0.33 percent to close at 378.43 points, while small-caps inched up 0.41 percent.

OTE telecom fared best among blue chips, adding 2.35 percent, ahead of Public Power Corporation, which rose 1.68 percent. Leading the losers were Ellaktor (down 2.25 percent) and Jumbo (2.05 percent).

In total 49 stocks posted gains, 64 headed down and 21 closed unchanged.

Turnover amounted to 62.3 million euros, down from Wednesday’s 71.2 million.

The latest figures by Hellenic Exchanges showed that the number of active investors declined to 20,229 in August from 23,562 in July and 24,951 in August 2013. They had numbered about 98,000 in May 2013.